India's foreign exchange reserves dropped USD 325 million to USD 560.942 billion as of February 24, making it the fourth consecutive week of decline in the kitty, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had declined USD 5.68 billion to USD 561.267 billion. In October 2021, the forex kitty reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the reserves to defend the rupee amid pressures due to various factors, mainly global developments.
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