Forex reserves continue to slide, fall to $360.2 billion

In the previous week, the reserves had fallen by $121.3 million to $360.905 billion.

The country's foreign exchange reserves declined by $711.6 million to $360.193 billion in the week to May 27 due to fall in foreign currency assets, Reserve Bank said on Monday.

In the previous week, the reserves had fallen by $121.3 million to $360.905 billion.

Foreign currency assets, which are a major component of the overall reserves, declined by $711.9 million to $336.227 billion in the week under review, central bank data showed.

Foreign currency assets, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves remained unchanged at $20.043 billion.

The country's special drawing rights with the International Monetary Fund remained unchanged at $1.498 billion, while the reserve position rose by $ 0.3 million to $2.425 billion, the apex bank said.