India's forex reserves decreased by $587 million to $635.08 billion for the week ended December 24, the RBI said on Friday.
In the previous week ended December 17, the overall reserves had decreased by $160 million to $635.67 billion.
The kitty had touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
For the reporting week ended December 24, the dip in the overall reserves was on account of a decline in foreign currency assets (FCA), a major component of the overall reserves.
FCA dipped by $847 million to $571.37 billion in the reporting week, the RBI data 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.
Gold reserves rose by $207 million to $39.39 billion in the reporting week, the apex bank data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) increased by $24 million to $19.11 billion in the reporting week, the RBI said.
The country's reserve position with the IMF increased by $28 million to $5.21 billion in the reporting week, the data showed.
Illustration: Dado Ruvic/Reuters