India's forex reserves drop by $7.79 billion to $691 billion

India's forex reserves fell by $7.794 billion to $690.693 billion during the week ended May 1, according to the Reserve Bank of India (RBI). The reserves had earlier touched a record high of $728.494 billion in February, before the Middle East conflict. RBI added that the value of gold reserves declined by $5.021 billion to $115.216 billion during the week.