India's foreign exchange reserves drop to six-week low

India's foreign exchange reserves fell for a second consecutive week and stood at a six-week low of $640.33 billion as of April 19, data from the central bank showed on Friday.

The reserves fell by $2.83 billion in the reporting week, adding to the previous week's $5.4 billion drop.

The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee.

For the week to which the foreign exchange data pertains, the rupee had fallen to a lifetime low of 83.5750 to the dollar but logged marginal weekly losses.