Divya Delhi: Following advances for the eighth consecutive week, India's foreign exchange reserves dropped $2.06 billion to $686.06 billion in the week ending May 2, according to official figures this week issued by the Reserve Bank of India (RBI). The week ending April 25 saw a $1.983 billion increase in India's foreign exchange reserves to $688.129 billion. According to figures from the apex bank, foreign currency assets rose $514 million to $581.177 billion during the reporting week. The largest portion of the foreign exchange reserves, which represent the valuation impact of non-US currencies held in the reserves, such as the euro, pound, and yen, are the FCAs. They are expressed in terms of dollars. During the reporting week, the gold reserves also took a hit, falling $2.545 million to $81.82 billion. According to RBI data, the Special Drawing Rights (SDRs), which are held with the International Monetary Fund (IMF), also suffered a $30 million damage, falling to $18.558 billion. After hitting an all-time high of $704.89 billion in September, the foreign exchange reserves began to decline until eventually rising again. The RBI's action to stop the Rupee from depreciating sharply was probably the cause of the reserve decrease. In relation to the US dollar, the Indian Rupee is currently at or close to its lowest point ever.