India's forex reserves fell during the week ending February 11Mumbai (Maharashtra): Foreign exchange reserves of the country fell by$1.76billion to $630.19 billion in the week endingFebruary 11 due to a sharp drop in the value of foreign currency assets, the Reserve Bank of India (RBI) data showed.Foreign currency assets, which is the biggest component of the forex reserves, slumped by $2.764 billion to $565.565 billion during the week under review, according to the RBI's weekly statistical supplement.In dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies like Euro, UK's Pound Sterling and Japanese Yen held in the foreign exchange reserves.India's reserve position in the International Monetary Fund (IMF) dropped by $16 million to $5.217 billion.At the same time though, there was a sharp risein the value of gold reserves and special drawing rights (SDRs).
The value of gold reserves jumped by $952 million to $40.235 billion during the week under review.India's SDR value with the IMFrose by $65 million to $19.173 billion.