New Delhi, Feb. 14 -- India's foreign exchange reserves extended their gains for the third straight week, after having slumped for about four months.

In the week that ended on February 7, the forex kitty rose USD 7.65 billion to USD 638.261 billion, Reserve Bank of India data showed Friday.

Barring the latest three weeks, the country's forex reserves had fallen in 15 of the 16 weeks, hitting an about 11-month low.

The forex reserves started falling since they touched an all-time high of USD 704.89 billion in September. They are now about 10 per cent lower from its peak.

The decline in reserves is most likely due to RBI intervention, aimed at preventing a sharp depreciation of the Rupee. The Indian Rupee is now at or near its all-time ...