The foreign exchange kitty had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had swelled by $8.223 billion to stand at $501.703 billion.
After rising for the past few weeks, the country's foreign exchange reserves declined by $2.939 billion to $535.252 billion for the week ended August 14, RBI data showed on Friday.
In the previous week ended August 7, the reserves had increased by $3.623 billion to reach a record high of $538.191 billion.
The foreign exchange kitty had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had swelled by $8.223 billion to stand at $501.703 billion.
In the week ended August 14, the reserves declined due to a fall in foreign currency assets (FCA), a major component of the overall reserves.
FCA dropped by $743 million to $491.550 billion in the reporting week, the central bank data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
The gold reserves slumped $2.19 billion in the reporting week to $37.595 billion, as per the RBI data.
The special drawing rights with the International Monetary Fund (IMF) declined by $2 million to $1.479 billion.
The country's reserve position with the IMF also dipped by $4 million to $4.628 billion during the reporting week.
Photograph: Dado Ruvic/Reuters
'It will take longest for India's growth to return'
18.9 million salaried employees lost jobs in lockdown
How can Modi rescue the economy?
Why Tharoor supports this Modi decision
'India in race for worst performing economy in 2020'