Economy

Snapping the three-week rising streak, India's forex reserves dropped by USD 2.54 billion to USD 635.721 billion in the week ended February 14, the RBI said on Friday.

In the previous reporting week, the reserves had increased by USD 7.654 billion to USD 638.261 billion. The forex reserves had increased to an all-time high of USD 704.885 billion in September 2024. The forex kitty however declined thereafter due to forex market interventions by RBI to reduce volatility in the rupee.

For the week ended February 14, foreign currency assets, a major component of the reserves, decreased by USD 4.515 billion to USD 539.591 billion, the data released on Friday showed.