Forex reserves drop marginally to USD 337.79 billion

After rising for consecutive weeks, India's foreign exchange reserves marginally declined by USD 286.3 million to USD 337.793 billion in the week to March 6 despite a rise in foreign currency assets (FCAs).
In the previous week, the reserves 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.
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, which was unchanged for past many weeks, declined by USD 346.2 million to USD 19.837 billion for the reporting week.
The special drawing rights decreased by USD 44.6 million to USD 4.021 billion, and the nation's reserve position with the International Monetary Fund also dipped by USD 17.9 million to USD 1.612 billion during the reporting week, the data showed.