In the previous reporting week, the reserves had jumped by Rs 1,05,784 crore ($12.588 billion) to an all-time high of Rs 59,23,994 crore ($704.885 billion).
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Mumbai: India's forex reserves dropped by Rs 31,171 crore ($3.709 billion to Rs 58,92,472 crore ($701.176 billion) for the week ended October 4, the RBI said on Friday.
In the previous reporting week, the reserves had jumped by Rs 1,05,784 crore ($12.588 billion) to an all-time high of Rs 59,23,994 crore ($704.885 billion).
For the week ended October 4, foreign currency assets, a major component of the reserves, decreased by Rs 29,506 crore ($3.511 billion) to Rs 51,48,774 crore ($612.643 billion), the data released on Friday showed.
Expressed in terms of dollar, 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 decreased by Rs 336 crore ($40 million) to Rs 5,52,606 crore ($65.756 billion) during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by Rs 1,033 crore ($123 million) to Rs 1,54,841 crore ($18.425 billion), the apex bank said.
India's reserve position with the IMF was down by Rs 294 crore ($35 million) to Rs 36,573 crore ($4.352 billion) in the reporting week, the apex bank data showed.