India's forex reserves fall by $1.24 billion to $691.485 billion

India's forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.

For the week ended May 30, foreign currency assets'a major component of the reserves'fell $1.952 billion to $584 billion, according to the RBI data.

The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said.

India's reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.

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