India’s forex reserves dropped $5.623 billion to $689.733 billion for the week ended October 31, the Reserve Bank of India said on Friday. The overall reserves had declined by $6.925 billion to $695.355 billion. For the week ended October 31, foreign currency assets, a major component of the reserves, decreased by $1.957 billion to $564.591 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units, like the euro, pound and yen held in the foreign exchange reserves.