India’s forex reserves dropped USD 2.412 billion to USD 637.922 billion as on April 26, in the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the overall reserves had declined USD 2.28 billion to USD 640.33 billion.
For the week ended April 5, the reserves had hit an all-time high of USD 648.562 billion following multiple weeks of increases.
The earlier high of USD 642.453 billion achieved in September 2021 got surpassed in March this year.
For the week ended April 26, the foreign currency assets — a major component of the reserves — decreased USD 1.159 billion to USD 559.701 billion, the data released on Friday showed.
