India's forex reserves drop by $2.69 bn to $717 bn

India’s forex reserves dropped by $2.691 billion to $717.056 billion during the week ended October 30, the RBI said on Friday (November 6, 2026).

In the previous week, the forex kitty had reduced by $1.269 billion to $719.748 billion.

The reserves had touched an all-time high of $785.706 billion during the week ended September 4, driven by a heavy flow of currency as part of a special concessional swap for deposits from the diaspora through which banks raised a record $133 billion, but have been on a decline ever since.

Experts attribute this decline to the deployment of the Foreign Currency Non-Resident Bank (FCNR[B]) resources and also to currency defence put up by RBI through dollar sales.

During the week ended October 30, foreign currency assets, a major component of reserves, decreased by $2.088 billion to $591.118 billion, according to the data released by Reserve Bank of India (RBI).

Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-U.S. units, such as the euro, pound, and yen, held in foreign exchange reserves.

The value of gold reserves decreased by $559 million to $102.591 billion during the week, RBI said.

The Special Drawing Rights (SDRs) were down by $47 million to $18.558 billion, the central bank said.

India’s reserve position with the IMF was up by $3 million to $4.79 billion, RBI said.