Mumbai, July 27 -- India's foreign exchange reserves fell by USD 1.18 billion to USD 695.49 billion for the week ending July 18, marking the third straight week of decline, according to the official data released by the Reserve Bank of India (RBI).

In the previous reporting week, the country's foreign exchange reserves fell by USD 3.06 billion to USD 696.67 billion.

In the week ending July 18, foreign currency assets, the major constituent of the forex reserves, fell by USD 1.201 billion to USD 587.609 billion, possibly becoming the primary reason for the decline in the forex reserves.

The Gold reserves, another major component of the forex, again witnessed an impressive recovery from last week's decline, increasing by USD 150 million ...