Mumbai, June 22 -- India's forex reserves dropped USD 9.985 billion to USD 671.625 billion during the week ended June 12 due to sharp drop in gold reserves, the RBI said on Friday.

For the week ended June 12, foreign currency assets increased USD 846 million to USD 544.290 billion.

However, the value of gold reserves decreased USD 10.754 billion to USD 103.821 billion during the week. The special drawing rights (SDRs) were down USD 66 million to USD 18.699 billion.

India's reserve position with the IMF were down USD 11 million to USD 4.815 billion in the reporting week, according to the apex bank's data.

Published by HT Digital Content Services with permission from Capital Market....