India’s forex reserves dropped $4.39 billion to $690.72 billion for the week ended August 22, the Reserve Bank of India (RBI) said on Friday.

Photograph: Dado Ruvic/Reuters

The overall reserves had jumped $1.49 billion to $695.11 billion in the previous reporting week.

For the week ended August 22, foreign currency assets, a major component of the reserves, decreased $3.65 billion to $582.25 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

The gold reserves decreased $665 million to $85 billion during the week, the RBI said.

The special drawing rights (SDRs) were down $46 million to $18.74 billion, the apex bank said.

India’s reserve position with the IMF was also down $23 million at $4.73 billion in the reporting week, the apex bank data showed.