In the previous week ended Jun 26, the reserves had increased by USD 1.27 billion to USD 506.84 billion.
There are hopes that the number could contract by over 37 per cent in May
The euro fell to $1.1288, slipping back after having scaled a one-month high of $1.1371 on Thursday.
Brent crude futures, the global oil benchmark, fell 0.23 per cent to USD 43.19 per barrel
The rupee skidded 9 paise to close at 75.02 against the US dollar in the previous session
The New Zealand dollar was little changed at $0.6573, also close to a one-month high.
It had settled at 74.93 against the US dollar on Tuesday.
The domestic unit consolidated in a narrow range in the first half of the session on Tuesday but came under pressure in the latter half despite gains in domestic equities.
The Australian dollar sank 0.65% to its U.S. counterpart after the announcement, last trading at $0.6928.
It had closed at 74.68 against the US dollar on Monday.
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