Forex reserves down by USD 1.839 bn to USD 584.242 bn

After touching a record high in the preceding week, the country’s foreign exchange reserves declined by USD 1.839 billion to USD 584.242 billion in the week ended January 15, RBI data showed on Friday.

In the previous week ended January 8, the reserves had climbed by USD 758 million to touch a lifetime high of USD 586.082 billion.

In the reporting week, foreign currency assets (FCA) — a major component of the overall reserves — decreased by USD 284 million to USD 541.507 billion, weekly data by the Reserve Bank of India (RBI) showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves declined by USD 1.534 billion to USD 36.06 billion in the week ended January 15, as per the data.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 4 million to USD 1.512 billion.

The country’s reserve position with the IMF fell by USD 17 million to USD 5.163 billion in the week, as per the data.

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