India's forex reserves dropped by $2 billion to $686 billion

India's forex reserves dropped USD 2.065 billion to USD 686.064 billion for the week ended May 2, the RBI said on Friday.

For the week ended May 2, foreign currency assets, a major component of the reserves, increased USD 514 million to USD 581.177 billion, the data released on Friday showed.

Gold reserves decreased USD 2.545 million to USD 81.82 billion during the week, the RBI said.

The special drawing rights were down USD 30 million to USD 18.558 billion, the apex bank said.

India's reserve position with the IMF was also down USD 3 million at USD 4.509 billion in the reporting week, the apex bank data showed.

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