In brief
The Reserve Bank of India reported a decline of $2.691 billion in foreign exchange reserves to $717.056 billion for the week ending Oct. 30, the eighth consecutive week of decreases. Foreign currency assets dropped $2.088 billion, while gold reserves fell $559 million. The IMF position improved by $3 million, lifting it to $4.79 billion.
India’s foreign exchange reserves fell $2.691 billion to $717.056 billion during the week ending Oct. 30, according to a bulletin released by the Reserve Bank of India on Friday, the Xinhua news agency reported.
This decline marks the eighth straight week of falling reserves, with the previous week’s drop at $1.269 billion.
Over the past two months, reserves have slipped by nearly $68.65 billion.
Foreign currency assets (FCAs) fell $2.088 billion to $591.118 billion, while gold reserves dropped $559 million to $102.591 billion.
Special Drawing Rights declined $47 million to $18.558 billion, and India’s position in the International Monetary Fund increased slightly by $3 million to $4.79 billion.
The RBI’s weekly bulletin provides markets with an up‑to‑date snapshot of the country’s foreign exchange holdings.
Consistent pressure on the rupee and ongoing global market volatility appear to be driving the continuous decrease in India’s forex reserves.
