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.
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- India forex reserves fall $8 . 58 billion to $726 . 03 billion ; rupee rebounds to 94 levels
- 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 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'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.
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