Forex reserves drop by $2.3 bn to $700.2 bn

Mumbai: India’s forex reserves dropped by $2.334 billion to $700.236 billion during the week ended September 26, according to the RBI data on Friday. In the previous reporting week, the kitty had declined by $396 million to $702.57 billion. For the week ended September 26, foreign currency assets, a major component of the reserves, decreased by $4.393 billion to $581.757 billion, the data released by the RBI showed. Expressed in dollar terms, 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.