<p>India's forex reserves dropped by $3.165 billion to $603.87 billion for the week ended July 28, the RBI said on Friday.</p>.<p>This is the second consecutive weekly drop in the reserves after the $1.987 billion decline to $607.035 billion in the previous reporting week,</p>.<p>In October 2021, the country's forex kitty reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/markets-halt-3-day-losing-run-sensex-nifty-settle-1-pc-higher-1243796.html">Markets halt 3-day losing run; Sensex, Nifty settle 1 pc higher</a></strong></p>.<p>For the week ended July 28, the foreign currency assets, a major component of the reserves, decreased by $2.416 billion to $535.337 billion, according to the Weekly Statistical Supplement released by the RBI.</p>.<p>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.</p>.<p>Gold reserves were down by $710 million to $44.904 billion, the RBI said.</p>.<p>The Special Drawing Rights (SDRs) were down by $29 million to $18.444 billion, the apex bank said.</p>.<p>The country's reserve position with the IMF was down by $11 million to $5.185 billion in the reporting week, the apex bank data showed.</p>
<p>India's forex reserves dropped by $3.165 billion to $603.87 billion for the week ended July 28, the RBI said on Friday.</p>.<p>This is the second consecutive weekly drop in the reserves after the $1.987 billion decline to $607.035 billion in the previous reporting week,</p>.<p>In October 2021, the country's forex kitty reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/markets-halt-3-day-losing-run-sensex-nifty-settle-1-pc-higher-1243796.html">Markets halt 3-day losing run; Sensex, Nifty settle 1 pc higher</a></strong></p>.<p>For the week ended July 28, the foreign currency assets, a major component of the reserves, decreased by $2.416 billion to $535.337 billion, according to the Weekly Statistical Supplement released by the RBI.</p>.<p>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.</p>.<p>Gold reserves were down by $710 million to $44.904 billion, the RBI said.</p>.<p>The Special Drawing Rights (SDRs) were down by $29 million to $18.444 billion, the apex bank said.</p>.<p>The country's reserve position with the IMF was down by $11 million to $5.185 billion in the reporting week, the apex bank data showed.</p>