The country's foreign exchange reserves declined by $1.47 billion to $639.64 billion in the week ended September 17, RBI data showed on Friday.
In the previous week ended September 10, 2021, the reserves had dipped by $1.34 billion to $641.11 billion.
The reserves had surged by $8.89 billion to a lifetime high of $642.45 billion in the week ended September 3, 2021.
During the reporting week ended September 17, 2021, the drop in the forex kitty was mainly on account of a decline in the foreign currency assets (FCAs), a major component of the overall reserves.
FCAs slumped by $892 million to $577.99 billion, weekly data by the Reserve Bank of India (RBI) 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 were down by $567 million to $37.10 billion in the reporting week, as per the data.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $4 million to $19.43 billion.
The country's reserve position with the IMF also decreased by $8 million to $5.12 billion in the reporting week, the data showed.
Photograph: Mohamed Abd El Ghany/Reuters