India's foreign exchange (Forex) reserves declined by $443.6 million as on May 12, 2017. India's Forex reserves comprise of foreign currency assets (FCAs), gold, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF). Segment-wise, FCAs -- the largest component of the Forex reserves -- edged lower by $429.4 million to $351.10 billion during the week under review. The Reserve Bank of India's weekly statistical supplement released on Friday showed that the overall Forex reserves decreased to $375.27 billion from $375.71 billion reported for the week ended May 5. The country's reserve position with the IMF inched down by $8.7 million to $2.28 billion.
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Forex reserves down $443.6 mn to $375.27 bn due to fall in currency assets
The country's reserve position with the IMF too declined by $8.7 million to $2.280 billion, the RBI said. After touching a record high, the country's forex reserves declined slightly by $443.6 million to $ 375.27 billion in the week to May 12, due to fall in foreign currency assets, the Reserve Bank said.In the previous week, the reserves had touched a life -time high of $375.71 billion.Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $429.4 million to $351.10 billion in the week, the RBI said.Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.Gold reserves remained stable at $20.438 billion after rising for the first time in past few weeks in the previous week.The special drawing rights with the International Monetary Fund decreased by $5.5 million to $1.454 billion.
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