India’s forex reserves dropped by $3.235 billion to $654.857 billion for the week ended December 6, the RBI said on Friday. In the previous reporting week, the reserves had increased by $1.51 billion to $658.091 billion, ending a multi-week decline in the overall kitty. The forex reserves had increased to an all-time high of $704.885 billion in end-September.
For the week ended December 6, foreign currency assets, a major component of the reserves, decreased by $3.228 billion to $565.623 billion, the data released on Friday showed. The foreign assets include the effect of appreciation or depreciation of non-US units like the euro.
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