Foreign currency assets (FCAs), the largest component of the reserves, rose by $846 million to $544.29 billion during the week.
However, the increase in FCAs was more than offset by a sharp decline in gold reserves, which fell by $10.75 billion to $103.82 billion.
Special Drawing Rights (SDRs) declined by $66 million to $18.70 billion, while India’s reserve position with the International Monetary Fund (IMF) slipped by $11 million to $4.82 billion.
In the previous week ended June 5, the country’s forex reserves stood at $681.61 billion.
On a year-on-year basis, India’s foreign exchange reserves were higher by $27.33 billion, with FCAs up by $45.14 billion, RBI data showed.
Despite the latest weekly decline, India continues to maintain a sizeable foreign exchange buffer that helps cushion the economy against external shocks and provides support to the rupee during periods of volatility.
The Reserve Bank of India closely monitors developments in the foreign exchange market and intervenes when necessary to ensure orderly market conditions, without targeting any specific exchange rate level.