The forex reserves had gone up by USD 1.4 billion to USD 295.25 billion in the previous reporting week. Foreign currency assets, a major component of the forex reserves, were down by USD 489.2 million to USD 262.41 billion, according to Reserve Bank's weekly statistical supplement.
Foreign currency assets 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, the apex bank said. The gold reserves remained unchanged at USD 25.69 billion during the week. For the week under review, the special drawing rights (SDRs) were up by USD 2 million to USD 4.347 billion, while the country's reserve position with the IMF was also up USD 1.3 million to USD 2.311 billion, the apex bank data showed.
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Forex reserves fall by USD 485 mn to USD 294.76 bn
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