India's Forex Reserves Decline to Approximately $721 Billion

• 24 Oct 2026

In the week ended October 16, 2026, India's foreign exchange reserves fell by about $5 billion to drop to $721 billion, according to the weekly data released by the Reserve Bank of India (RBI).

Key Facts

• Forex Reserves: According to the RBI, India's total foreign exchange reserves stood at approximately US$ 721 billion for the week ended October 16.
• Foreign Currency Assets: The largest component of the reserves, Foreign Currency Assets (FCA), declined by $5.7 billion to $591.8 billion.
• Gold Reserves: In contrast to foreign currency assets, the value of gold reserves rose by $706 million to reach $105.8 billion.
• Special Drawing Rights: Special Drawing Rights (SDR) issued by the IMF increased by $30 million to $18.5 billion.
• Reserve Position in the IMF: India's reserve position with the International Monetary Fund rose by $11 million to $4.79 billion.
• Major Reason for Decline: The drop in total reserves was primarily driven by the decline in foreign currency assets, despite increases recorded in gold and other components.
• Previous Record: In the week ended September 4, 2026, foreign exchange reserves reached an all-time high of $785.706 billion, following which a declining trend has been observed.