Forex watch: India's reserves drop $9.32 bn to $688.87 bn this week, led by decline in foreign currency assets & gold

India's foreign exchange reserves saw a significant decrease. The reserves dropped by $9.322 billion, reaching $688.871 billion. This decline occurred for the week ending on August 1. Foreign currency assets experienced a fall of $7.319 billion. Gold reserves also decreased by $1.706 billion. Special Drawing Rights and India's reserve position with the IMF also witnessed declines.