India's forex reserves decline under $690 billion mark

India's foreign exchange reserves (forex) saw a sharp decline last week, falling US$ 9.32 billion to US$ 688.871 billion in the week ending August 1, official data released by the Reserve Bank of India showed. However, the overall levels of reserves are just under its all-time high of US$ 704.89 billion touched in September 2024. The latest data showed that India's foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at US$ 581.607 billion. According to RBI data, the gold reserves currently amount to US$ 83.998 billion, with a US$ 1.706 billion drop.

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