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Forex Kitty Down $1.14 Billion To $359 Billion On Dip In Gold Reserves

After remaining unchanged for several weeks, the gold reserves dipped by $1.398 billion to $18.584 billion at the end of the reporting week, the central bank said

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A huge fall in gold reserves led to a $1.14 billion dip in the country's forex reserves to $359.155 billion for the week ended January 7, the Reserve Bank said on Friday.

Total reserves had risen by $625.5 million to $360.296 billion in the previous reporting week.

After remaining unchanged for several weeks, the gold reserves dipped by $1.398 billion to $18.584 billion at the end of the reporting week, the central bank said.

Foreign currency assets (FCAs), the biggest component of the overall reserves, increased by $241.8 million to $336.824 billion in the reporting week.

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

The overall forex reserves had touched a life-time high of $371.99 billion in the week to September 30, 2016.

The special drawing rights with the International Monetary Fund rose by $5.7 million to $1.438 billion, while India's reserve position with the IMF, too, increased by $9.4 million to $2.308 billion, RBI said.


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dollar gold forex reserve bank of india