Mumbai, Nov 10 (IANS): India's foreign exchange (forex) reserves declined by $1.65 billion to touch $281.29 billion for the week ended Nov 1, official data showed.

The forex reserves had risen by $1.82 billion to touch $282.95 billion for the week ended Oct 25.

According to the Reserve Bank of India (RBI) Weekly Statistical Supplement, India's foreign currency assets (FCA), the biggest component of the forex reserves, decreased by $894.2 million to $253.60 billion for the week under review.

RBI said the FCA expressed in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

The FCA had rised by $1.80 billion to $254.50 billion for the week ended Oct 25.

The value of India's gold reserves were down by 538.1 million at $21.22 billion. The reserves value had remained stagnant at $21.76 billion since the week ended Oct 11.

However, India's reserve position with the International Monetary Fund (IMF) declined by $177.9 million to $2.03 billion and the value of the special drawing rights (SDRs) lost $46.9 million to $4.42 billion.

For the week ended Oct 25, the country's reserve with IMF had risen by $6.9 million to $2.21 billion and the value of the SDRs gained by $13.7 million to $4.46 billion.