Forex reserves drop by $2.67 billion to $682.13 billion

In the previous reporting week, the overall reserves had dropped by $3.463 billion to $684.805 billion

India's forex reserves declined by $2.675 billion to $682.13 billion for the week ended November 1, the RBI said on November 8.

In the previous reporting week, the overall reserves had dropped by $3.463 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 $3.902 billion to $589.849 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 $1.224 billion to $69.751 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $1 million to $18.219 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.