There was a USD 24 million fall in the country’s foreign exchange, which stood at USD 303.48 billion at the end of the week, Reserve Bank said on Friday.
The marginal fall in the forex kitty comes immediately after a surge of USD 1.67 billion to USD 303.51 billion which was reported in the previous week.
Foreign currency assets, the biggest component of the foreign reserves were down by USD 29 million to 273.70 billion for the week ended March 25, the RBI said in its weekly data released on Friday.
Foreign currency assets expressed in U.S. dollar terms include the effect of appreciation or depreciation of the non-U.S. currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
India’s gold reserves were unchanged at USD 22.14 billion at the end of the reporting week, the central bank said.
There was a slight increase in both the special drawing rights (SDRs) and reserve position in the International Monetary Fund (IMF) during the week, RBI said. The SDRs were at USD 5.232 billion, up USD 3 million from the week before while there was a USD 2 million increase in India’s reserve position in the IMF, which stood at USD 2.409 billion as of March 17, the RBI data said.
