Forex Reserves Down By $2.03 Billion To $617.64 Billion

Continuing their downward trajectory for the third consecutive week, the country's foreign exchange reserves declined by $2.03 billion to stand at $617.648 billion in the week ended March 25, RBI data showed on Friday.

In the week ended March 18, the forex kitty had declined by $2.597 billion to $619.678 billion. It had plunged by $9.646 billion to $622.275 billion in the week ended March 11.

During the reporting week, the fall in the reserves was mainly on account of a decline in the foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India.

FCA dropped by $3.202 billion to $550.454 billion in the week ended March 25.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $1.23 billion to $43.241 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $44 million to $18.821 billion.

The country's reserve position with the IMF also decreased by $14 million to $5.132 billion.