Forex kitty dips $161.9 million to $386.377 billion

Mumbai: The country's forex reserves declined marginally by USD 161.9 million to USD 386.377 billion in the week to July 7 due to a fall in foreign currency assets, RBI data showed.

In the previous week, the reserves had touched a life- time high of USD 386.539 billion after rising by USD 4.007 billion.

Foreign currency assets (FCAs), a major component of overall reserves, declined by USD 157 million to USD 362.231 billion in the reporting week, according to the RBI data.

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

Gold reserves remained unchanged at USD 20.348 billion.

The special drawing rights with the International Monetary Fund (IMF) were down by USD 1.9 million to USD 1.477 billion.

The country's reserve position with the IMF too dipped by USD 3 million to USD 2.319 billion.