Mumbai, Sep 13 (IANS): India's foreign exchange reserves fell by $1.32 billion to $317.31 billion for the week ended Sep 5, Reserve Bank of India (RBI) data showed.

The reserves had grown by $60.5 million to $318.64 billion for the week ended Aug 29.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, decreased by $1.02 billion at $290.36 billion in the week under review.

The foreign currency assets had increased by $75 million to $291.39 billion for the previous week.

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.

India's reserve position with the International Monetary Fund (IMF) slipped by $16 million to $1.67 billion.

The value of special drawing rights (SDRs) was down by $41.6 million at $4.34 billion.

The value of gold reserves fell $240.7 million at $20.93 billion for the week ended Sep 5. The value of gold reserves had remained static at $21.17 billion since Aug 22.