In the week to September 26, the reserves fell by $1.415 billion to $314.181 billion. In the week to July 25, 2014, they had touched $320.56 billion, just short of the life-time high of $320.79 billion touched on September 2, 2011.

In the reporting week, foreign currency assets, a major constituent of overall reserves, dropped by $1.803 billion to $285.588 billion, the RBI said.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen held in reserves.

After remaining unchanged for a couple of weeks, the country's gold reserves dropped by $919.7 million to $20.013 billion.

Special drawing rights (SDRs) were down $22.8 million at $4.284 billion while the country's reserve position with the IMF dipped by $8.2 million to $1.540 billion during the week, the RBI data showed.

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