Forex reserves decline by USD 739 mn to USD 414.14 billion

Mumbai: After rising for the past many weeks, the country's foreign exchange reserves declined by USD 739.2 million to USD 414.147 billion in the week to April 19, RBI data showed Friday.

In the previous week, the reserves had increased by USD 1.105 billion to touch USD 414.886 billion.

In the reporting week, foreign currency assets, which are a major component of the overall reserves, fell by USD 728.6 million to USD 386.033 billion.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and yen held in the reserves.

The forex kitty had touched a life-time high of USD 426.028 billion in the week to April 13, 2018.

Gold reserves remained unchanged at USD 23.303 billion, according to the data.

The special drawing rights with the International Monetary Fund was down by USD 3.2 million to USD 1.455 billion.

The country's reserve position with the Fund also decreased by USD 7.4 million to USD 3.354 billion, the Reserve Bank said.