<div><span style="line-height: 1.4;">Continuing the downward trend for the fifth consecutive week, the foreign exchange reserves plunged $2.754 billion to $311.427 billion in the week to October 3, led by a major fall in non-US currency assets, according to data released by the Reserve Bank of India (RBI).</span></div><div> </div><div>In the week to September 26, reserves went down by $1.415 billion to $314.181 billion. In the week to July 25, 2014, the reserves had touched $320.56 billion, just short of the life-time high of $320.79 billion on Setpember 2, 2011.</div><div> </div><div>In the reporting week, foreign currency assets, a major constituent of overall reserves, decreased $1.803 billion to $285.588 billion, RBI said.</div><div> </div><div>Foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen held in reserves.</div><div> </div><div>After remaining unchanged for a couple of weeks, the country's gold reserves dropped by $919.7 million to $20.013 billion.</div><div> </div><div>Special Drawing Rights (SDRs) were down $22.8 million to $4.284 billion, while the country's reserve position with the IMF dipped by $8.2 million to $1.540 billion during the week, the RBI data showed.</div><div> </div><div>(PTI)</div>
