India's forex reserves shrink by ₹4.94 lakh crore in four weeks. India's foreign exchange reserves declined by $51.1 billion (₹4.95 lakh crore) over four consecutive weeks. Reserves fell from $785.71 billion in the week ended September 4 to $734.61 billion in the week ended October 2. Despite the decline, India has about 11 months of import cover, with reserves equivalent to 94.4% of external debt, RBI Governor Sanjay Malhotra had said.