India's forex reserves dropped by USD 5.681 billion to USD 561.267 billion for the week ended February 17, the RBI said on Friday. This is the third consecutive week of a drop in the reserves after the USD 8.319 billion decrease in the previous reporting week to USD 566.948 billion. In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
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