The reserves have fallen for the first time in the last five weeks. The reserves had risen by USD 1.09 billion to USD 314.92 billion for the week ended May 16.

For the week ended May 9, the Forex had gained by USD 1.97 billion to USD 313.83 billion.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, fell by USD 2.25 billion to USD 285.56 billion in the week under review.

The foreign currency assets had increased by USD 1.26 billion to USD 287.81 billion for the week ended May 16.

The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

However, India's reserve position with the International Monetary Fund (IMF) decreased by USD 3.7 million to USD 1.67 billion.

The value of special drawing rights (SDRs) also fell. The SDRs were down USD 9.8 million to USD 4.45 billion.

The value of gold reserves remained the same in the period under review at USD 20.96 billion. The reserves had declined by USD 601 million at USD 20.96 billion in week ended May 2.

(Agencies)

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