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 country’s reserve position with the IMF also dipped by $4 million to $4.628 billion during the reporting week.