<p>Mumbai: India's forex reserves dropped USD 7.511 billion to USD 681.384 billion during the week ended May 22, the RBI said on Friday.</p>.<p>In the previous reporting week, the kitty had dropped USD 8.094 billion to USD 688.894 billion.</p>.<p>The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the onset of the Middle East conflict that led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the <a href="https://www.deccanherald.com/tags/forex">forex</a> market through dollar sales.</p>.India's forex kitty drops $8 billion to $688.894 billion.<p>Prime Minister Narendra Modi has also made multiple public appeals to countrymen to conserve forex by cutting down on foreign travel, limiting fuel use and refraining from gold buys for a year.</p>.<p>For the week ended May 22, foreign currency assets, a major component of the reserves, decreased USD 2.872 billion to USD 543.032 billion, the central bank's data showed.</p>.<p>Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.</p>.<p>The value of gold reserves also declined USD 4.53 billion to USD 114.786 billion during the week, the RBI said.</p>.<p>The Special Drawing Rights (SDRs) were down by USD 77 million to USD 18.748 billion, the apex bank said.</p>.<p>India's reserve position with the IMF was also down by USD 33 million to USD 4.818 billion at the end of the reporting week, according to the RBI data. </p>
<p>Mumbai: India's forex reserves dropped USD 7.511 billion to USD 681.384 billion during the week ended May 22, the RBI said on Friday.</p>.<p>In the previous reporting week, the kitty had dropped USD 8.094 billion to USD 688.894 billion.</p>.<p>The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the onset of the Middle East conflict that led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the <a href="https://www.deccanherald.com/tags/forex">forex</a> market through dollar sales.</p>.India's forex kitty drops $8 billion to $688.894 billion.<p>Prime Minister Narendra Modi has also made multiple public appeals to countrymen to conserve forex by cutting down on foreign travel, limiting fuel use and refraining from gold buys for a year.</p>.<p>For the week ended May 22, foreign currency assets, a major component of the reserves, decreased USD 2.872 billion to USD 543.032 billion, the central bank's data showed.</p>.<p>Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.</p>.<p>The value of gold reserves also declined USD 4.53 billion to USD 114.786 billion during the week, the RBI said.</p>.<p>The Special Drawing Rights (SDRs) were down by USD 77 million to USD 18.748 billion, the apex bank said.</p>.<p>India's reserve position with the IMF was also down by USD 33 million to USD 4.818 billion at the end of the reporting week, according to the RBI data. </p>