Forex reserves decline by $1.18 billion to $695.48 billion, shows RBI data

India's forex kitty declined by $1.183 billion to $695.489 billion during the week ended July 18, the RBI said on Friday.

In the previous reporting week, the overall kitty had dropped by $3.064 billion to $696.672 billion. The reserves had touched an all-time high of $704.885 billion in end-September 2024. 

For the week ended July 18, foreign currency assets, a major component of the reserves, slipped by $1.201 billion to $587.609 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

However, the gold reserves increased by $150 million to $84.499 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $119 million to $18.683 billion, the apex bank said.

India's reserve position with the IMF declined by $13 million to $4.698 billion in the reporting week, the apex bank data showed.