Forex Reserves Slide To $600.423 Billion In April

The country's foreign exchange reserves decreased by $3.271 billion to $600.423 billion in the week ended April 22, Reserve Bank of India (RBI) data showed.

In the previous week, the reserves had declined by $311 million to $603.694 billion.

During the reporting week, the fall in the reserves was on the account of a decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, and gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCA dropped by $2.835 billion to $533.933 billion in the week ended April 22.

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 declined by $377 million to $42.768 billion in the reporting week, according to the data.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dipped by $33 million to $18.662 billion, RBI said.

The country's reserve position with the IMF decreased by $26 million to $5.060 billion in the reporting week, as per the data.