New Delhi, March 1 -- India's foreign exchange reserves dipped USD 2.119 billion in the week that ended February 20 to USD 723.608 billion, after having reached a new all-time high recently, according to the Reserve Bank of India's latest data.

Foreign exchange reserves dipped in the latest week, driven by a drop in gold reserves and foreign currency assets.

Over the past few weeks, the forex kitty has been largely in an uptrend. Foreign exchange reserves touch record high of USD 725.727 billion in February.

For the reported week (that ended February 20), India's foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 572.564 billion, down USD 1.039 billion.

The RBI data showed that gold reserve...