India's forex reserves declined by $5.68 billion to $561.27 billion as of February 17, according to data released by the Reserve Bank of India (RBI) on Friday.
The previous week's data had shown that India's foreign exchange dropped by $8.31 billion to $566.94 billion as of February 10, marking an 8.3 percent decline and the largest drop in over 11 months.
India's forex reserves had reached an all-time high of $645 billion in October 2021, but have been decreasing as the central bank uses the kitty to defend the rupee amid pressures caused majorly by global developments.
India's foreign currency assets (FCA), which includes the impact of non-US currencies such as the euro, pound, and yen, decreased by $4.52 billion to $496.07 billion.
Meanwhile, gold reserves decreased by $1.04 billion to $41.82 billion, and special drawing rights (SDRs) fell by $87 million to $18.26 billion.
