Forex reserves slump to $367.64 bn
Gold reserves remained steady at $21.406 billion, the apex bank said. The special drawing rights with the International Monetary Fund declined by $10.4 million to $1.476 billion.
Mumbai(PTI): After touching a record high, the country's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion in the week to October 7, the Reserve Bank said on Friday. The decline was on account of a substantial fall in foreign currency assets (FCAs), a major component of the overall reserves.
In the previous week ended September 30, the reserves had surged $1.223 billion to reach a life-time high of $371.99 billion. In the reporting week, foreign currency reserves dipped by $4.316 billion to $342.394 billion.
FCAs, expressed in US 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 steady at $21.406 billion, the apex bank said. The special drawing rights with the International Monetary Fund declined by $10.4 million to $1.476 billion.
