New Delhi, Oct. 31 -- India's foreign exchange reserves declined by USD 1.269 billion to USD 719.748 billion in the week ended October 23, according to data released by the Reserve Bank of India (RBI) on Friday.

The decline followed a sharper fall of USD 5.011 billion in the previous reporting week ended October 16, when reserves stood at USD 721.016 billion.

India's forex reserves had reached a record high of USD 785.706 billion in the week ended September 4, supported by substantial foreign currency inflows through a special concessional swap arrangement for deposits from the Indian diaspora, under which banks raised nearly USD 133 billion. Reserves have declined since then.

Gold Reserves Decline, Foreign Currency Assets Rise

Accord...