Mumbai: Foreign exchange reserves of the country fell by $691 million to $311.79 billion for the week ended 27 June from $312.481 billion in the week before, data provided by the Reserve Bank of India showed.

Forex reserves had jumped by $1.794 billion to $312.481 billion in the previous week.

Foreign currency assets (FCAS) showed a decline of $694 million during the week and stood at $302.05 billion as compared to $302.744 billion in the previous week, RBI said in its weekly report.

FCAS, expressed in US dollar terms, include the effect of appreciation or depreciation of non-us currencies such as euro, sterling and yen held in reserves, RBI said.

Gold reserves and special drawing rights, during the week, were static at $9.202 billion and $11 million respectively, RBI said.

India's reserve position with the International Monetary Fund rose in the second consecutive week to $527 million, up $3 million from $524 million in the past week, RBI said.