India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday.

The fall is attributed to a dip in foreign currency assets, which form the largest component of the reserves. These assets saw a reduction in valuation as the dollar strengthened against major global currencies.

MUMBAI: The pressure on the rupee continued to extract a toll on the forex reserves for the sixth consecutive week ending November 8—a week when the rupee was at its nadir plunging to the lowest level of 84.

The forex reserves had dropped by $2.675 billion to $682.13 billion in the previous reporting week. The reserves are down $29.2 billion from the record-high of $704.89 billion hit