In the previous week (Jan 16) the reserves went up by USD 2.66 billion to USD 322.13 billion. According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, decreased USD 19.7 million at USD 297.51 billion in the week under review.

The foreign currency assets had increased by USD 2.68 billion at USD 297.53 billion in the previous week (January 16).The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.

India's reserve position with the International Monetary Fund (IMF) in the week ended January 23 fell by USD 16.8 million and stood at USD 1.10 billion.

The value of special drawing rights (SDRs) was lower by USD 61.4 million in the week under review at USD 4.04 billion.

Gold reserves for the week ended Jan 23 was static at $19.37 billion. The reserves had grown by USD 392 million at USD 19.37 billion in the week ended January 9.

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