After touching a record high in the preceding week, the country’s foreign exchange reserves declined by $1.839 billion to $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 $758 million to touch a lifetime high of $586.082 billion.
In the reporting week, foreign currency assets (FCA) — a major component of the overall reserves — decreased by $284 million to $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 $1.534 billion to $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 $4 million to $1.512 billion.The country’s reserve position with the IMF fell by $17 million to $5.163 billion in the week, as per the data.