NEW DELHI, Nov. 22 (Xinhua) -- India's foreign exchange reserves fell by 17.761 billion U.S. dollars to 657.892 billion U.S. dollars during the week ended Nov. 15, according to the official data released by the country's central bank the Reserve Bank of India (RBI) on Friday.
This was the sharpest decline in the country's forex reserves ever since the RBI began releasing the weekly data in 1998, said an online report by The Indian Express newspaper.
The steep decline in the forex reserves was attributed to the release of U.S. dollars by the RBI in the market to prop up rupee, the Indian currency. ■