Fri, Jul 11 08:03 PM
Mumbai, July 11 (PTI) A USD 4 billion decline in the foreign currency assets (FCA) caused a further fall in India's foreign exchange reserves for the second consecutive week. Reserves fell by a whopping USD 3.393 billion for the week ended July 4 to USD 308.397 from USD 311.790 in the previous week, the Reserve Bank weekly data said.
The reserves had dropped by a marginal USD 691 million in last week. FCAs declined from USD 302.744 billion in the previous week to USD 298.661 billion, down USD 4.083 billion, RBI data said.
FCAs expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, RBI said. Meanwhile, the gold reserves improved marginally this week to USD 9.208 billion as compared to USD 9.202 billion in the previous week while the Special Drawing Rights remained static at USD 11 million, the apex bank said.
India's reserve position in the International Monetary Fund fell by USD 10 million during the week and stood at USD 517 million as against USD 527 million in the previous week, the central bank said. PTI.
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