Forex reserves down by $1.67 billion to $369.6 billion

After touching a record high, the country's forex reserves declined by $1.679 billion to $369.6 billion in the week to September 16, RBI data showed on Friday.

The reserves had touched a record high of $371.279 billion after it increased by $3.513 billion in the previous week.

Foreign currency assets (FCAs), a major component of the overall reserves, decreased by $1.673 billion to $344.073 billion in the reporting week, the Reserve Bank said.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at $21.642 billion, the apex bank said.
 

The country's special drawing rights with the International Monetary Fund dipped by $2.3 million to $1.491 billion, while the reserve position with the fund was down by $3.7 million to $2.392 billion, RBI said.