India’s forex reserves decline by $2.69 bn to $717.06 bn as of Oct 30

India's foreign exchange reserves decreased by $2.691 billion to $717.056 billion in the week ending October 30, as reported by the Reserve Bank of India (RBI) on Friday. The primary driver of this decline was a reduction in foreign currency assets and gold reserves, which constitute the majority of the country's foreign exchange holdings.

Foreign currency assets, the largest component, fell by $2.088 billion to $591.118 billion during the week. Similarly, gold reserves decreased by $559 million to $102.591 billion. Additionally, Special Drawing Rights (SDRs) held by India also declined by $47 million to $18.558 billion. However, India's reserve status with the IMF saw a marginal increase of $3 million to $4.790 billion during the same period.

In rupee terms, the total foreign exchange reserves were recorded at Rs 68.09 lakh crore as of October 30, a decline of Rs 24,777 crore from the previous week. Notably, even with this weekly decline, India's foreign exchange reserves remained above their levels at the end of March 2026. Over the year, the reserves increased by $27.324 billion, or Rs 6.86 lakh crore, reflecting a consistent expansion of the country's external reserve position.

Foreign currency assets showed an annual increase of $26.527 billion, while gold reserves rose by $865 million. Conversely, SDR holdings dropped by $87 million, and the IMF reserve position grew by $18 million.