Country's forex reserves slid for the second consecutive week falling by $2.042 billion to $307.49 billion on the back of a decline in the foreign currency assets.
The total foreign exchange reserves had gone down by $3.98 billion to $309.54 billion in the previous reporting week.
Foreign currency assets, the largest component of the total reserves, fell by $1.98 billion to $276.14 billion for the week ended May 13, the Reserve Bank of India (RBI) said in its weekly data released today.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.
India's gold reserves were unchanged at $23.79 billion during the reporting week, the data said.
Both the special drawing rights (SDRs) and reserve position in the IMF also witnessed a decline during the week, the RBI said.
The SDRs decreased by $38 million to $4.596 billion while India's reserve position in the IMF was down by $25 million to $2.964 billion, the RBI data showed.
