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India’s foreign exchange (forex) reserves declined by $1.358 billion to $422.2 billion in the week to June 14 due to fall in foreign currency assets, Reserve Bank of India (RBI) data showed.
Forex reserves had increased by $1.686 billion to $423.554 billion in the previous reporting week.
Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018.
In the reporting week, foreign currency assets, which is a major component of the overall reserves, decreased by $1.353 billion to $ 394.44 billion.
Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-United States (US) units like the euro, pound and yen held in the reserves.
Gold reserves remained stable at $ 22.958 billion, according to the RBI data.
Special drawing rights with the International Monetary Fund (IMF) fell by $ 0.1 million to $ 1.449 billion.
The country’s reserve position with the fund also declined by $ 0.2 million to $ 3.345 billion.
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