Mumbai: The country’s foreign exchange reserves increased by $ 16.6 million to $393.734 billion in the week to 7 December, mainly due to a rise in foreign currency assets, according to the Reserve Bank (RBI) data. In the previous week, the reserves had increased by $932.8 million to $393.718 billion. In the reporting week, foreign currency assets, a major component of the overall reserves, rose by $9.7 million to $368.497 billion, according to RBI data.

Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Forex reserves had touched a record high of $426.028 billion in the week to 13 April 2018. Since then, the forex kitty has been on a slide and is now down by over $31 billion.

Gold reserves were unchanged at $21.150 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) increased by $2.5 million to $1.457 billion. The country’s reserve position with the IMF also increased by $4.4 million to $2.630 billion, the apex bank said.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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