After rising for the past few weeks, the country’s foreign exchange reserves declined $2.939 billion to $535.25 billion for the week ended August 14, RBI data showed on Friday.
In the week ended August 7, the reserves had increased by $3.623 billion to reach a record high of $538.191 billion. In the week ended August 14, the reserves declined due to a fall in foreign currency assets (FCA), a major component of the overall reserves.