Mumbai: Foreign exchange reserves had their second consecutive weekly fall, coming down by USD1.37 billion to USD291.80 billion on the back of a decline in the core currency assets.

The reserves had dwindled by USD2.19 billion to USD293.17 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, dropped by USD1.33 billion to USD257.86 billion for the week ended May 11, the Reserve Bank said on Friday.

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

The gold reserves were unchanged at USD26.61 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were down by USD25.6 million to USD4.434 billion, while the country's reserve position with the IMF also fell by USD16.7 million to USD2.889 billion, the apex bank data showed.

(Agencies)

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