India's forex reserves down $112 million to $314.5 billion

MUMBAI: India's foreign exchange reserves declined by $112 million to $314.507 billion on the back of a dip in foreign currency assets (FCAs) for the week ended July 15.

The reserves had declined by $1.10 billion in the previous week to $314.62 billion.

FCAs, the biggest component of the foreign reserves, were down $115 million to $282.30 billion for the week under review, the Reserve Bank said in its weekly data released this evening.

FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, it said.

The country's gold reserves remained unchanged at 24.668 billion, the apex bank data said.

Both the special drawing rights (SDRs) and reserve position in the International Monetary fund showed an increase during the week, RBI said.

The SDRs were up by $2 million to $4.584 billion, while India's reserve position in the IMF increased by $1 million to $2.956 billion, the RBI data showed.