In the previous week (January 2) the reserves had decreased by USD 471 million to USD 319.23 billion. According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose USD 308.5 million at USD 294.84 billion in the week under review.

The foreign currency assets declined by $863 million at $294.53 billion in the previous week (Jan 2).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 9 fell by USD 15.4 million and stood at USD 1.12 billion.

The value of special drawing rights (SDRs) was lower by USD 56.7 million in the week under review at USD 4.12 billion. Gold reserves for the week under were static at USD 19.37 billion. The reserves had grown by USD 392 million at USD 19.37 billion in the previous week.

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