Forex reserves drop by $2.063 bn to $335.729 bn

Country's foreign exchange reserves dropped by USD 2.063 billion to USD 335.729 billion in the week to March 13, due to fall in foreign currency assets (FCAs).

Mumbai: Country's foreign exchange reserves dropped by USD 2.063 billion to USD 335.729 billion in the week to March 13, due to fall in foreign currency assets (FCAs).

In the previous week, the reserves had dropped marginally by USD 286.3 million to USD 337.793 billion after touching a life-time high of USD 338.079 billion, a week earlier.

The FCAs, a major constituent of overall reserves, declined by USD 1.975 billion to USD 310.347 billion, the Reserve Bank data showed.

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

The country's gold reserves remained unchanged at USD 19.837 billion for the reporting week.

The special drawing rights decreased by USD 60.8 million to USD 3.960 billion, and the nation's reserve position with the International Monetary Fund also dipped by USD 27.1 million to USD 1.585 billion during the reporting week, the data showed.

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