Market analysts attribute the decline in foreign currency assets to the RBI actively releasing dollars in the market to curb the volatility in the rupee.
The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global events, but there had been a steady accretion over the past few months.
For the week ended April 5, the foreign currency assets, a major component of the reserves, increased by USD 549 million to USD 571.166 billion, the data released on Friday showed.
This is the sixth consecutive week of a jump in overall reserves. The kitty had increased USD 140 million to USD 642.631 billion in the previous reporting week.
In the preceding week that ended on March 15, the forex reserves had increased by a more robust $6.4 billion to scale a record high of $642.49 billion.