India's forex reserves dip US$ 4.4 billion

India's foreign exchange reserves dipped by USD 4.4 billion in the week that ended August 22 to USD 690.720 billion, driven largely by slump in foreign currency assets, the Reserve Bank of India (RBI) data showed on Friday. India's foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 582.251 billion, down by USD 3.652 billion. The RBI data showed that the gold reserves currently amount to USD 85.003 billion, witnessing a decline of USD 665 million.

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