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India's forex reserves dip by $ 161.9 million to $ 386.377 billion

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India's foreign exchange reserves dipped by $ 161.9 million to $ 386.377 billion during the week ended July 7, the Reserve Bank of India (RBI) said here today.
 
The country's forex reserves had soared by a whopping $ 4.007 billion to a new high of $ 386.539 billion during the previous week.
 
In its weekly statistical supplement, the central bank said that  foreign currency assets, which constitute a major chunk of the forex reserves, had gone down by $ 157 million to $ 362.232 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at  $ 20.348 billion during the week, while its special drawing rights (SDRs) went down by $ 1.9 million to $ 1.4778 billion.
 
India’s reserve position in the International Monetary Fund (IMF) declined by $ 3 million to $ 2.3194 billion during the week, the bulletin added.
 
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