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Foreign exchange reserves in India declined to $638.65 billion during the week ended September 24, as per data released by the RBI on Friday. The decline was on account of dip foreign currency assets, which constitute a major part of the overall reserves. Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in RBI's reserves.

Overall forex reserves declined $997 million during the week from $639.64 billion seen in the previous week, Reserve Bank of India (RBI) data showed.

Foreign currency assets (FCAs) dipped $1.25 billion to $576.73 billion during the week under review from $577.99 billion in the previous week, RBI data showed.

Gold reserves grew $327 million to $37.43 billion in the reporting week, as per the data.

India's special drawing rights (SDR) with International Monetary Fund (IMF) declined $55 million to $19.38 billion during the week.

The country's reserve position in IMF also fell $13 million to $5.1 billion during the reporting week, reflected RBI data.

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