India's forex reserves drop to $699.96 billion

India's foreign exchange reserves stood at $699.96 billion as on October 3, data released by the RBI on Friday showed.

For the week ended October 3, foreign currency assets, a major component of the reserves, decreased by $4.04 billion to $577.70 billion, the data released on Friday showed.

Value of the gold reserves increased by $3.75 billion to $98.77 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $25 million to $18.81 billion, the central bank said.

India's reserve position with the IMF declined by $4 million to $4.66 billion in the reporting week, the apex bank data showed.

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