India's forex reserves down by $768.4 mn

India's forex reserves slid by $768.4 million to $288.63 billion on a fall in the core foreign currency assets, the Reserve Bank said on Friday.

Over $2 billion were added to the total reserves in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by $743.8 million to $255.78 billion for the week ended June 22, Reserve Bank said on Friday.

Foreign currency assets expressed in US 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 $25.58 billion, the apex bank said.

For the week under review, the special drawing rights were down by $14.8 million to $4.370 billion, while the country's reserve position with the International Monetary Fund was also down by nearly $10 million to $2.889 billion, the apex bank data showed.