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India’s forex reserves decrease by USD 286.3m to USD 337.793b

India’s forex reserves decrease by USD 286.3m to USD 337.793b

Mumbai: India’s foreign exchange reserves marginally decreased by USD 286.3 million to USD 337.793 billion in the week to March 6 despite a rise in foreign currency assets.

The reserves in the previous week touched a life-time high of USD 338.079 billion, an increase of USD 3.886 billion over the last week. The FCAs, a major constituent of overall reserves, increased by USD 122.4 million to USD 312.322 billion in the week ended March 6, the Reserve Bank data showed.

Expressed in dollar terms, the FCAs 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, which was unchanged for past many weeks, declined by USD 346.2 million to USD 19.837 billion for the reporting week.