Mumbai, Feb 8: India’s foreign exchange (forex) reserves decreased by $1.16 billion to $291.07 billion for the week ended Jan 31, reserve bank of India (RBI) data showed.

The foreign exchange reserves had increased by $157.3 million to $292.23 billion for the week ended Jan 24.

According to the RBI’s weekly statistical supplement foreign currency assets, the biggest part of the forex reserves, fell by $1.48 billion to $264.56 billion.

The foreign currency assets had up by $1.20 billion to $265.93 billion in the previous week.

RBI such as that the foreign currency assets, expressed in U.S.A. dollar terms, include the such as of appreciation or depreciation of non-US currencies held in reserve like the pound sterling, euro and yen.

The value of special drawing rights (SDRs) decreased by $25.6 million to $4.43 billion during the week under review. India’s reserve position with the International monetary fund (IMF) fell by $11.5 million to $1.99 billion.

The value of India’s gold reserves grew by $351.2 million at $20.07 billion.