India's forex reserves drop to 653 bln USD, lowest since June

India's foreign exchange (forex) reserves dropped to 652.86 billion U.S. dollars during the week ended Dec. 13, revealed the official data released by the country's central bank, the Reserve Bank of India (RBI) on Friday, Xinhua reports. 

This was described as the lowest forex reserves in the past six months.

According to the RBI's data, this was the second consecutive week when the forex reserves had declined.

The forex reserves' biggest component, the Foreign Currency Assets (FCAs) fell by 3.05 billion U.S. dollars to 562.57 billion dollars, even as the gold reserves increased by 1.12 billion dollars to 68.06 billion dollars.

As was reported earlier, India's foreign exchange reserves rose $4.5 billion to reach $674.7 billion in August.