Mumbai: Country's foreign exchange reserves declined by USD 1.466 billion to USD 350.365 billion in the week to February 19, due to fall in foreign currency assets (FCAs), according to the Reserve Bank. In the previous week, the reserves had increased by USD 347.2 million to USD 351.831 billion.
FCAs, a major component of overall reserves, fell by USD 1.436 billion to USD 328.583 billion in the reporting period, the RBI said in a release on February 26. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.
Gold reserves remained unchanged at USD 17.696 billion in the week. India's special drawing rights with the International Monetary Fund (IMF) dipped by USD 2.574 billion to USD 1.487 billion in the week, whereas the country's reserve position with the Fund increased by USD 2.543 billion to USD 2.598 billion, RBI said.
