India's forex reserves dropped by USD 4.8 billion to USD 670.119 billion for the week ended August 9, the Reserve Bank of India said on Friday.

This latest jump surpasses the previous record of USD 655.82 billion set for the week ending June 7, following an earlier rise of USD 5.16 billion to USD 657.15 billion reported for the week ending July 5.

India's foreign exchange reserves have surged to a lifetime high of $657.2 billion, as per data released by the Reserve Bank of India (RBI) on Friday. This marks a significant increase of $5.16 billion during the week ending July 5. The jump in reserves follows a brief contraction of $1.71 billion the previous week, bringing the total to $652 billion by June 28. The current surge indicates a resumption of the upward trend seen in preceding weeks.

For the week ended March 22, the foreign currency assets, a major component of the reserves, decreased by USD 123 million to USD 568.264 billion, the data released on Friday showed.

The foreign currency assets surged by $8.121 billion to $562.352 billion during the reported week. These assets encompass various currencies such as the euro, pound, and yen, and their valuation is subject to fluctuations against the US dollar.