India's Forex Reserves Dip by USD 2.69 Billion to USD 717.06 Billion
India's foreign exchange reserves saw a weekly dip of USD 2.69 billion. Get the full breakdown of FCA, gold, and IMF reserves.
India's financial cushion took a slight hit in the final week of October. According to the latest data released by the Reserve Bank of India (RBI) on Friday, the country's India forex reserves decline by USD 2.691 billion, bringing the total holdings down to USD 717.056 billion as of October 30.
Breaking Down the Weekly Slide
The decline was not uniform across all assets, but the primary drivers were the two largest components of the reserves: foreign currency assets and gold.
- Foreign Currency Assets (FCA): As the heavyweight of the reserves, FCAs saw a significant drop of USD 2.088 billion, settling at USD 591.118 billion.
- Gold Reserves: The value of gold holdings decreased by USD 559 million, leaving the total at USD 102.591 billion.
- Special Drawing Rights (SDRs): These IMF-allocated reserve assets also saw a dip of USD 47 million, bringing them down to USD 18.558 billion.
In a small silver lining, the reserve position with the International Monetary Fund (IMF) actually grew slightly, increasing by USD 3 million to reach USD 4.790 billion during the same week.
The Impact in Rupee Terms
When translated into local currency, the dip is even more apparent. Total foreign exchange reserves stood at Rs 68.09 lakh crore as of October 30. This represents a weekly decrease of Rs 24,777 crore.
The Bigger Picture: Long-term Growth
While the weekly numbers show a contraction, the broader trajectory of India's external reserves remains positive. The current holdings are still significantly higher than they were at the end of March 2026.
Comparison with End-March Levels
Compared to the end-March figures, the reserves have actually surged by USD 25.949 billion. In rupee terms, this is a substantial increase of Rs 2.55 lakh crore.
Year-on-Year Performance
The annual data paints an even stronger picture of expansion. Over the past year, India's foreign exchange reserves have grown by USD 27.324 billion, or Rs 6.86 lakh crore. The annual breakdown reveals the following shifts:
- Foreign Currency Assets: Rose by USD 26.527 billion.
- Gold Reserves: Increased by USD 865 million.
- IMF Reserve Position: Grew by USD 18 million.
- SDR Holdings: The only annual decline, dropping by USD 87 million.
Despite the recent weekly volatility, the overall trend indicates a steady expansion of India's external reserve position over the last twelve months.