Forex reserves fall by $935.2 million to $359.671 billion

India's foreign exchange reserves declined by $ 935.2 million to $ 359.671 billion in the week to December 23 on account of fall in foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had fallen by $ 2.380 billion to $360.606 billion.

They had touched a life-time high of $371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $ 933.2 million to $ 335.970 billion in the reporting week.

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

Gold reserves remained steady at $19.982 billion in the reporting week, the RBI said.

The special drawing rights with the International Monetary Fund decreased by $ 0.9 million to $ 1.427 billion, while India's reserve position with the Fund too declined by $ 1.1 million to $ 2.290 billion, the data showed.