- India’s forex reserves fell by $9.985 billion to $671.625 billion by June 12
- Foreign currency assets rose by $846 million to $544.290 billion during the week
- Gold reserves dropped sharply by $10.754 billion to $103.821 billion in the week
India's forex reserves dropped $9.985 billion to $671.625 billion during the week ended June 12 due to sharp drop in gold reserves, the RBI said on Friday.
In the previous reporting week, the overall reserves had dropped $711 million to $681.610 billion.
For the week ended June 12, foreign currency assets -- a major component of the reserves -- increased $846 million to $544.290 billion, the data released by the Reserve Bank of India (RBI) showed.
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Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.
However, the value of gold reserves decreased $10.754 billion to $103.821 billion during the week, the RBI said.
The special drawing rights (SDRs) were down $66 million to $18.699 billion, the apex bank said.
India's reserve position with the IMF were down $11 million to $4.815 billion in the reporting week, according to the apex bank's data.
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