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Market analysts attribute the decline in foreign currency assets to the RBI actively releasing dollars in the market to curb the volatility in the rupee.
Expressed in dollar terms, the 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
According to the data released by Reserve Bank of India on 12 April, India's forex jumed to $648.562 billion which is the seventh consecutive week of a jump in overall reserves.
India's foreign exchange reserves dip by of $5.24 billion to $617.23 billion for the week ending on February 9, latest data by Reserve Bank of India (RBI) showed on Friday.
For the week ended February 2, the foreign currency assets, a major component of the reserves, increased by USD 5.186 billion to USD 55.331 billion, as per the data of RBI