The country's foreign exchange reserves declined $9.646 billion to $622.275 billion in the week ending March 11, according to the latest data from the RBI.
In the week ended September 3, 2021, it touched a lifetime high of $642.453 billion.
The decline in reserves was caused by a fall in foreign currency assets FCA, a major component of the overall reserves, according to the Reserve Bank of India's weekly data released on Friday.
In the week ending March 11, the FCA decreased by $11.108 billion to $554.359 billion.
Foreign currency assets include the impact of appreciation or depreciation of non-US units like the euro, pound and yen held in foreign exchange reserves, and are expressed in dollar terms.
The data shows that gold reserves increased by $1.522 billion to $43.842 billion in the reporting week.
The special drawing rights SDRs with the International Monetary Fund IMF fell by $53 million to $18.928 billion, the RBI said.
The country's reserve position with the International Monetary Fund decreased by $7 million to $5.146 billion in the reporting week, according to data released by the country's reserve position with the IMF.