India's forex reserves fell $5.011 billion to $721.016 billion in the week ended October 16, according to the Reserve Bank of India (RBI). The reserves had dropped $8.578 billion in the prior week to $726.027 billion. They hit an all-time high of $785.706 billion in the week ended September 4, driven by heavy dollar inflows from a special concessional swap for diaspora deposits, which allowed banks to raise a record nearly $133 billion; the reserves have trended lower since. Experts attribute the sharp decline to the deployment of FCNR(B) resources and RBI dollar sales to defend the currency. Foreign currency assets fell $5.758 billion to $591.847 billion, while gold reserves rose $706 million to $105.8 billion, SDRs increased $30 million to $18.578 billion, and the IMF reserve position rose $11 million to $4.791 billion.
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foreign reservesIndiacentral bankexchange ratesUS dollar
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Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 101.74 |
| Change that session | +0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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