{
  "id": 17237792,
  "title": "India's forex kitty shrinks by $1.27 billion as gold reserves slide",
  "url": "https://urgent.news/2026/10/30/indias-forex-kitty-shrinks-by-1-27-billion-as-gold-reserves-slide",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T14:38:56.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/business/india-business/indias-forex-kitty-shrinks-by-1-27-billion-as-gold-reserves-slide-bank-credit-growth-accelerates/articleshow/135366420.cms"
  },
  "original_language": "en",
  "account": "India's foreign exchange reserves declined by $1.269 billion to $719.748 billion in the week ending October 23, 2026, according to the Reserve Bank of India (RBI). The primary cause of the decrease was a $2.650 billion drop in gold holdings, which fell to $103.150 billion. Despite this, foreign currency assets, the largest component of reserves, rose by $1.358 billion to $593.205 billion. Other reserves components showed mixed changes, with SDRs increasing by $27 million to $18.605 billion and the IMF reserve position falling by $4 million to $4.787 billion. The country's foreign exchange reserves remained $28.640 billion higher than in March 2026. Additionally, bank credit growth accelerated, with outstanding credit rising 18.2% year-on-year to Rs 227.43 lakh crore, and deposit growth also outpaced expectations, increasing 16.7% year-on-year to Rs 278.76 lakh crore.",
  "summary": "In the week ending October 23, India witnessed a decline in foreign exchange reserves, dropping by $1.269 billion to a total of $719.748 billion. This decrease was primarily driven by a notable reduction in the value of gold reserves. However, foreign currency assets saw a rise of $1.358 billion, reaching $593.205 billion.",
  "key_points": [
    "Gold reserves declined by $2.650 billion, falling to $103.150 billion.",
    "Foreign currency assets increased by $1.358 billion to $593.205 billion."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}