Mumbai: India’s foreign exchange reserves declined by USD 1.431 billion to USD 363.874 billion in the week to December 2, due to fall in foreign currency assets, the Reserve Bank has said.

In the previous week, the reserves had dipped by USD 193.8 million to USD 365.305 billion.

They had touched a life-time high of USD 371.99 billion in the week to September 30, 2016. Foreign currency assets (FCAs), a major component of the overall reserves, dipped by USD 957.9 million to USD 340.131 billion. 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, which had remained steady for many weeks, declined by USD 477.9 million to USD 19.982 billion, the apex bank said. The special drawing rights with the International Monetary Fund increased by USD 1.7 million to USD 1.443 billion, while India’s reserve position with the Fund rose by USD 2.8 million to USD 2.316 billion, the apex bank said. — PTI