India's forex reserves dropped by $30 million to $594.858 billion for the week ended August 25, the Reserve Bank said on Friday.
In the previous reporting week, the overall reserves had dropped by $7.273 billion to $594.888 billion.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
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For the week ended August 25, the foreign currency assets, a major component of the reserves, decreased by $538 million to $527.249 billion, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-U.S. units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were up by $530 million to $44.354 billion, the RBI said.
The Special Drawing Rights were down by $11 million to $18.194 billion, the apex bank said.
The country's reserve position with the IMF was also down by $12 million to $5.061 billion in the reporting week, the apex bank data showed.
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