India's foreign exchange reserves decrease by $2.1 bn to $697.7 bn

India’s foreign exchange reserves decreased by $2.1 billion to $697.7 billion in the week ended October 10, the latest data from the Reserve Bank of India (RBI) showed. The total reserves fell on the back of a decline in foreign currency assets, which decreased by $5.6 billion during the reported week.

 

The reserves had hit a record high of $705 billion in September 2024.

 

Meanwhile, gold reserves increased by $3.5 billion during the week. The special drawing rights (SDRs) were down $130 million to $18.6 billion. India’s reserve position with the International Monetary Fund (IMF) was also down by $36 million to $4.6 billion in the reporting week.