Forex reserves down by USD 942 mn to USD 393.523 bn

The country's foreign exchange reserves declined by USD 942 million to USD 393.523 billion in the week to October 19 on account of a fall in foreign currency assets, according to RBI data.

In the previous week, the reserves had seen a steep fall of USD 5.14 billion to reach USD 394.465 billion.

In the reporting week, foreign currency assets, a major component of overall reserves, fell by USD 922.4 million to USD 369.076 billion, as per the RBI data.

Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.