During the reporting week ended January 7, the decline in the forex kitty was mainly due to a fall in gold reserves and foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).
FCAs decreased by $497 million to $569.392 billion in the reporting week.
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 declined by $360 million to $39.044 billion, according to the data.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by $16 million to $19.098 billion.