India's foreign exchange reserves slip to USD 393.401 billion

Mumbai: After touching a record high, the foreign exchange reserves declined marginally, by USD 211.1 million, to USD 393.401 billion in the week to August 18 due to fall in foreign currency assets, the RBI data showed.

In the previous week, the reserves had touched an all time time high of USD 393.612 billion after they had increased by USD 163.8 million.

The foreign currency assets (FCAs), a major component of the overall reserves, decreased by USD 208.1 million to USD 369.690 billion, the data showed.

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

Gold reserves remained unchanged at USD 19.943 billion. The special drawing rights with the International Monetary Fund declined by USD 1.2 million to USD 1.497 billion.

The country's reserve position with the IMF declined by USD 1.8 million to USD 2.269 billion, the apex bank said.