Forex Reserves Down By $1.67 Billion To $369.6 Billion

  • 26-Sep-2016
  • Forex Reserves Down By $1.67 Billion To $369.6 Billion

MUMBAI: The forex reserves declined by $1.679 billion to $369.6 billion in the week to September 16, RBI data showed recently.

The reserves had touched a record high of $371.279 billion after it increased by $3.513 billion in the previous week. Foreign currency assets (FCAs), a major component of the overall reserves, decreased by $1.673 billion to $344.073 billion in the reporting week, the Reserve Bank said.

FCAs, expressed in dollar terms, include the effect of appreciation / depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves. Gold reserves remained unchanged at $21.642 billion, the Apex Bank said. The special drawing rights with the International Monetary Fund dipped by $2.3 million to $1.491 billion, while the reserve position with the fund was down by $3.7 million to $2.392 billion, RBI said.

Source: Dailyshippingtimes.com

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