India's forex reserves fell by USD 8.578 billion to USD 726.027 billion in the week ended October 9, according to data released Friday by the Reserve Bank of India. Foreign currency assets, the largest component, dropped USD 7.142 billion to USD 597.605 billion, while gold reserves fell USD 1.319 billion to USD 105.094 billion. SDRs with the IMF declined USD 109 million to USD 18.548 billion, whereas India's reserve position with the IMF rose USD 10 million to USD 4.780 billion. Despite the weekly drop, reserves remain USD 34.920 billion higher than at the end of March 2026 and USD 28.244 billion above a year earlier.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on calcuttanews.net ↗
Related news
- India forex reserves down by USD 8 . 58 billion to USD 726 . 03 billion in week ended Oct 9
India's forex reserves fell by USD 8.578 billion to USD 726.027 billion in the week ended October 9, according to RBI data released on Friday. Foreign currency assets dropped by USD 7.142 billion to USD 597.605 billion, and gold reserves fell by USD 1.319 billion to USD 105.094 billion. Despite the weekly decline, total reserves remain higher than at the end of March 2026, by USD 34.920 billion, and a year earlier, by USD 28.244 billion.
- India forex reserves down by USD 8 . 58 billion to USD 726 . 03 billion in week ended Oct 9
- India forex reserves down by USD 8 . 58 billion to USD 726 . 03 billion in week ended Oct 9
India's forex reserves fell by USD 8.578 billion to USD 726.027 billion in the week ended October 9, according to RBI data released on Friday. Foreign currency assets, the largest component, dropped USD 7.142 billion to USD 597.605 billion, while gold reserves fell USD 1.319 billion to USD 105.094 billion. Special drawing rights with the IMF declined USD 109 million to USD 18.548 billion, whereas India's reserve position with the IMF rose USD 10 million to USD 4.780 billion. Despite the weekly drop, total reserves remained USD 34.920 billion higher than at the end of March 2026 and USD 28.244 billion higher year on year. Compared with the end of March 2026, foreign currency assets were up USD 45.323 billion while gold was down USD 10.301 billion.
- India forex reserves down by USD 8 . 58 billion to USD 726 . 03 billion in week ended Oct 9
According to RBI data released Friday, India's forex reserves fell by USD 8.578 billion to USD 726.027 billion in the week ended October 9. Foreign currency assets dropped USD 7.142 billion to USD 597.605 billion and gold reserves fell USD 1.319 billion to USD 105.094 billion, while SDRs declined USD 109 million to USD 18.548 billion and the reserve position with the IMF rose USD 10 million to USD 4.780 billion. Despite the weekly decline, total reserves remained USD 34.920 billion higher than at the end of March 2026 and USD 28.244 billion above a year earlier. Reserves act as a financial cushion for external payment obligations and help the country manage periods of pressure on its external sector.
- India Forex Reserves Fall $8 . 6 Billion To $726 Billion As RBI Defends Rupee
India's forex reserves fell $8.6 billion to $726 billion in the week ended October 9, marking their fifth straight weekly decline as the Reserve Bank of India (RBI) intervened to stabilise the rupee. The cumulative fall over five weeks is about $59.7 billion, after reserves hit a record $785.71 billion on September 4. The drop reflects high crude oil prices, foreign portfolio outflows and persistent dollar demand. The rupee closed at 94.96 per dollar on Friday, up 1.9% for the week, after nearly hitting a record low of 96.96 earlier in October. The RBI has rolled out measures including a dedicated dollar window for state oil marketers, tighter forex derivatives rules and a risk reserve requirement, though these cannot eliminate underlying dollar demand.
- India forex reserves fall $8 . 58 billion to $726 . 03 billion ; rupee rebounds to 94 levels
Related markets
Latest news
- Earnings live updates: All eyes on Musk and Meta as Q3 earnings rev up
Big tech is the focus of this week's earnings season, with Meta (META), SpaceX (SPCX) and Tesla (TSLA) due to report. SpaceX and Netflix (NFLX) kick off on Tuesday after the bell, while Tesla and Meta report on Wednesday, offering an early read on the Magnificent Seven and the AI trade. Wall Street estimates S&P 500 earnings growth of 29.6%, according to FactSet; if that holds, it would be the third straight quarter of growth above 25%. General Motors (GM), IBM (IBM), United Airlines (UAL) and Procter & Gamble (PG) also report this week.
- Mysterious UAV Enters Lithuania as NATO Fighters Fail to Intercept It
On the morning of October 18, an unidentified drone entered Lithuanian airspace between 6:00 and 8:00, prompting an air alert and the scrambling of NATO jets, which escorted the object but could not shoot it down due to difficult weather. Debris later found in Juojonis village in Pasvalys district was initially identified as drone parts, and the military says it may have entered from Poland. Latvia issued a similar warning for several regions and cancelled it at 8:12, though its army has not confirmed the object was a drone. Prime Minister Mindaugas Sinkevičius said the sabotage hypothesis must be verified, while law enforcement works to determine the drone's origin; earlier, on September 15, Italian Eurofighter Typhoons shot down a drone that had flown into Lithuania from Belarus.
- Corning Is Moving Beyond Fiber Cables. Can AI Networking Pay Off?
Corning (GLW) is extending beyond fiber cables into optical components inside AI systems, having demonstrated optical connectivity with Lumentum and Astera Labs on October 12 and partnered with Nvidia on a planned tenfold expansion of optical connectivity capacity in the US. Its Optical Communications sales rose 32% year-over-year to $2.07 billion in Q2 2026, and management sees a potential $10 billion revenue opportunity by 2030 from a photonics platform, though timing and adoption remain uncertain. Still, the valuation is elevated, with a forward non-GAAP P/E of 44.81x, about 84% above its 5-year average of 24.31x, while analysts expect EPS to grow 30.41% in December 2026 and 33.02% in December 2027. The article notes that slower AI spending or delayed CPO adoption could pressure the stock.
- Google’s Next AI Chip Is Running Late. Why Marvell May Be Fine
GF Securities says one part of Google's TPU v9 design slipped about three weeks, likely due to a redesign, pushing the timeline back roughly a quarter, with mass production now expected in Q2 2027. Packaging substrate yields of just 45% to 50% are a key obstacle, but GF sees no demand problem, citing strong TPU demand from Google and external customers such as Anthropic. The firm points to MediaTek, not Marvell (MRVL), as facing short-term headwinds, so any benefit to Marvell appears indirect. At 63x forward earnings, a 66% premium to its five-year average P/E of 38.02x, the article concludes the delay is not by itself a reason to buy.
- Stocks bounce back, Anthropic's "Public Benefits", and Musk's promise to American kids
The 8:30 show, hosted by Julie Hyman, Pras Subramanian and Jake Conley, discusses the stock market's rebound. Other topics include Anthropic's (ANTH.PVT) commitment to a “Public Benefit” fund, Elon Musk's promise to American children about SpaceX (SPCX) stock ahead of earnings, and doubts over an IPO after Microsoft (MSFT) withdrew.
- Microsoft vs. Alphabet: Is GOOGL’s Cloud Growth Worth More Than Investors Think?
Microsoft (MSFT) and Alphabet (GOOGL) trade at forward P/E ratios of 25.13 and 22.83, respectively. Google Cloud revenue jumped 82% to $24.8 billion in the second quarter, with operating income rising from $2.8 billion to $8.8 billion, while Azure and other cloud services grew 43%. Both companies face heavy infrastructure spending: Microsoft spent $35.8 billion on property and equipment, pushing its cloud gross margin down to 65%, while Alphabet spent $44.9 billion, leaving roughly negative $5.85 billion in quarterly free cash flow. The article argues Alphabet's $9.11 EPS is unreliable because about $98 billion came from net other income, so its 30% operating-income growth better reflects underlying performance. Microsoft has a more diversified earnings base and higher consolidated operating margins, but the key question is whether either company can turn AI demand into cash after paying for infrastructure.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.