Forex kitty drops by $2.67 bn to $682.13 bn

India's forex reserves declined by $2.67 billion to $682.13 billion for the week ended November 1, the RBI said on Friday.

In the previous reporting week, the overall reserves had dropped by $3.46 billion to $684.805 billion.

In September- end, the reserves had hit an all-time high of $704.885 billion.

For the week ended November 1, foreign currency assets, a major component of the reserves, decreased by $3.9 billion to $589.85 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.

Gold reserves increased by $1.22 billion to $69.75 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $1 million to $18.22 billion, the apex bank said.

India's reserve position with the IMF was up by $4 million to $4.311 billion in the reporting week, the data showed.