India's foreign exchange reserves down by US $97.9 million to US $322 billion

India's foreign exchange reserves declined marginally by US $97.9 million to US $322.037 billion in the week to January 23, RBI said on Friday. In the previous reporting week, the reserves had jumped by a whopping US $2.66 billion to US $322.135 billion, a new record high.

Foreign currency assets (FCAs), a major constituent of overall reserves, fell by US $19.7 million to US $297.510 billion in the reporting week, Reserve Bank data showed. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in reserves.

The country's gold reserves remained unchanged at US $19.377 billion. Special drawing rights decreased by US $61.4 million to US $4.047 billion, while India's reserve position with the IMF dipped by US $16.8 million to US $1.101 billion during the week, the data showed.