Continuing downward trend, thecountry's foreign exchange reserves fell by USD 1.426 billion to USD 418.940 billion in the week to May 4, due to decrease in foreign currency assets, RBI data showed today.In the previous week, the reserves had fallen by USD 3.216 billion to USD 420.366 billion.The reserves had touched a record high of USD 426.028 billion in the week to April 13, 2018. The figure had crossed the USD 400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating.In the reporting week, the foreign currency assets, a major component of the overall reserves, declined by USD 1.560 billion to USD 393.716 billion.Expressed in the US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.Gold reserves rose by USD 150.7 million to USD 21.661 billion in the reporting week, the Reserve Bank of India said.The special drawing rights with the International Monetary Fund (IMF) dipped by USD 7.1 million to USD 1.515 billion.The country's reserve position with the IMF also declined by USD 9.7 million to USD 2.046 billion, the apex bank said.
