India’s forex reserves fell by $276 million to $699.96 billion during the week ended October 3, according to RBI data.

Illustration: Dado Ruvic/Reuters

In the previous reporting week, India’s forex reserves had dropped by $2.33 billion to $700.24 billion.

For the week ended October 3, foreign currency assets, a major component of the reserves, decreased by $4.05 billion to $577.71 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.

Value of the gold reserves increased by $3.75 billion to $98.77 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $25 million to $18.81 billion, the central bank said.

India’s reserve position with the IMF declined by $4 million to $4.67 billion in the reporting week, the apex bank data showed.