Forex reserves down $1.19 billion to $367 billion

Mumbai: India's foreign exchange reserves declined by USD 1.190 billion to USD 367.041 billion in the week to November 11 on account of fall in foreign currency assets, Reserve Bank said on November 18.

In the previous week, the reserves had increased by USD 1.074 billion to USD 368.231 billion. They had touched life- time high of USD 371.99 billion in the week to September 30, this year.

Foreign currency assets a major component of the overall reserves, dipped by USD 1.155 billion to USD 342.772 billion.

FCAs, expressed in US dollar terms, include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves. Gold reserves remained steady at USD 20.460 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by USD 13.4 million to USD 1.462 billion, while India's reserve position with the fund dipped by USD 21.5 million to USD 2.346 billion, the apex bank said.