India's Forex Reserves Decline by $2.11 Billion to $723.6 Billion

India's foreign exchange reserves declined by $2.11 billion to $723.608 billion in the week ending February 20, according to Reserve Bank of India data. The decrease was driven by a $1.039 billion drop in foreign currency assets and a $977 million fall in gold reserves. Special Drawing Rights and the reserve position with the IMF also saw minor reductions during the week. This follows a recent record high of $725.72 billion.