The rise in India 's foreign exchange reserves that was continuing for the last several weeks has finally come to a halt. In the week that ended on October 4, India's foreign exchange reserves fell by a huge $3.71 billion to reach $701.18 billion. The Reserve Bank of India (RBI) shared this important information related to the currency reserves on Friday. In the previous week (September 27), the country's foreign exchange reserves had reached an all-time high of $704.88 billion with a record increase of $12.58 billion. 

The increase was continuing for the last several weeks

In the previous week (week ending on September 20), the country's foreign exchange reserves had increased by $ 2.84 billion to reach $ 692.29 billion. In the week ending on September 13, the country's foreign exchange reserves increased by $ 223 million to a new all-time high of $ 689.46 billion. Earlier, in the week ending on September 6, India's foreign exchange reserves had reached a new record level of $ 689.23 billion with a jump of $ 5.25 billion.

Decline was also recorded in foreign exchange assets

According to data released by the Reserve Bank of India on Friday, October 11, foreign currency assets, which are considered an important part of the currency reserves, fell by $ 3.51 billion to $ 612.64 billion in the week ended October 4. Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies such as Euro, Pound and Yen held in the foreign exchange reserves. 

Gold reserve and reserve with IMF also decreased

Apart from the foreign exchange reserves, the value of the country's gold reserves also fell by a huge $40 million to $65.75 billion in the week ended October 4. During this period, the Drawing Rights (SDR) fell by $123 million to $18.42 billion. According to the Reserve Bank data, during this period, India's reserve with the International Monetary Fund (IMF) fell by $35 million to $4.35 billion.