Mumbai: After hitting a record high, the country's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion in the week to October 7, the Reserve Bank of India said on Friday.
The decline was on account of a substantial fall in foreign currency assets (FCAs) - a major component of the overall reserves.
In the previous week that ended on September 30, the reserves had surged by $1.223 billion to reach a life-time high of $371.99 billion.
In the reporting week, foreign currency reserves dipped by $4.316 billion to $342.394 billion.
FCAs, expressed in US 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 steady at $21.406 billion, the apex bank said.
The special drawing rights with the International Monetary Fund declined by $10.4 million to $1.476 billion, while India's reserve position with the Fund dipped by $16.5 million to $2.369 billion, the RBI said.
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