Mumbai, June 9 -- India's forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.

For the week ended May 30, foreign currency assets-a major component of the reserves-fell $1.952 billion to $584 billion, according to the RBI data.

The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said.

India's reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.

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