India's forex reserves slide USD 1.3 bn to USD 317.3 bn

India's foreign exchange reserves dipped by USD 1.327 billion to USD 317.313 billion in the week ended September 5 on a slide in the currency assets and gold stockpile, the Reserve Bank said today.
The total reserves had increased by USD 60.5 million to USD 318.64 billion in the previous reporting week.
Foreign currency assets (FCAs), a major constituent of overall reserves, dropped by USD 1.028 billion to USD 290.364 billion for the week under review, the apex bank said.
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves.

After remaining unchanged for many weeks, the gold reserves dipped by USD 240.7 million to USD 20.93 billion.
The special drawing rights were down USD 41.6 million to USD 4.344 billion, and India's reserve position with the IMF also dropped by USD 16 million to USD 1.671 billion during the week, the RBI data showed.