Forex kitty dips $161.9 million to $386.377 billion

MUMBAI: The country's forex reserves declined marginally by $161.9 million to $386.377 billion in the week to July 7 due to a fall in foreign currency assets, RBI data showed.

In the previous week, the reserves had touched a life- time high of $386.539 billion after rising by $4.007 billion.

Foreign currency assets (FCAs), a major component of overall reserves, declined by $157 million to $362.231 billion in the reporting week, according to the RBI data.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained unchanged at $20.348 billion.

The special drawing rights with the International Monetary Fund (IMF) were down by $1.9 million to $1.477 billion.

The country's reserve position with the IMF too dipped by $3 million to $2.319 billion.

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