India's forex reserves decline by over $1.16 bn

Mumbai, Oct 8 (IANS) India's foreign exchange reserves fell by $1.169 billion during the week ended October 1.The Reserve Bank of India's (RBI) forex reserves declined to $637.477 billion from $638.646 billion reported for the week ended September 24.India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs and the country's reserve position with the International Monetory Fund (IMF).On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.280 billion to $575.451 billion.However, the value of the country's gold reserves rose by $128 million to $37.558 billion. On the other hand, the SDR value fell by $138 million to $19.240 billion. In contrast to SDRs, the country's reserve position with the IMF rose by $122 million to $5.228 billion.
--IANS rv/sn/arm

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