Mumbai: India’s forex reserves dropped by $6.711 billion to $717.064 billion during the week ended February 6, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the kitty had jumped by $14.361 billion to an all-time high of $723.774 billion.
During the week ended February 6, foreign currency assets, a major component of the reserves, increased by $7.661 billion to $570.053 billion, the data released by the central bank showed.
Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.
Value of the gold reserves dropped by $14.208 billion to $123.476 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $132 million to $18.821 billion, the Reserve Bank said.
India’s reserve position with the International Monetary Fund (IMF) was also down by $32 million to $4.715 billion in the reporting week, according to the apex bank’s data.