India's forex reserves fall by $8 billion to 7-month low level

India's foreign exchange reserves fell by $8.5 billion to a more than seven-month low of $644.39 billion in the week ended December 20. The third consecutive week of decline comes amid the weakening of the rupee against the US dollar. Foreign currency assets dipped by $6 billion, while gold reserves fell by $2.3 billion in the reporting week.