India's foreign exchange reserves at 11-week low, down for third week

In the week gone by, the rupee depreciated 0.4 per cent against the US dollar, settling at 82.83 per US dollar on February 17

The Reserve Bank of India’s (RBI’s) foreign exchange reserves declined by $5.7 billion to an 11-week low of $561.27 billion in the week ended February 17, latest central bank data showed.

The fall in the reserves for the third straight week was mainly on account of a drop in the RBI’s foreign currency assets, which declined $4.5 billion to $496.07 billion in the previous week.

The RBI’s gold reserves also declined last week, dropping $1 billion to $41.82 billion, the data showed.

In the week gone by, the rupee depreciated 0.4 per cent against the US dollar, settling at 82.83