In the previous week, the overall reserves had increased by USD 2.176 billion to USD 697.784 billion.
For the week ending 17 October, foreign currency assets (FCA), the largest part of the reserves, fell by USD 1.692 billion to USD 570.411 billion. These assets are affected by changes in the value of currencies such as the euro, pound, and yen.
Meanwhile, the value of gold reserves rose sharply by USD 6.181 billion to USD 108.546 billion during the week. Special Drawing Rights (SDRs) also saw a slight increase of USD 38 million, reaching USD 18.722 billion.
India’s reserve position with the International Monetary Fund (IMF) fell by USD 30 million to USD 4.602 billion in the reporting week, according to RBI data.
The growth in gold reserves helped offset the dip in foreign currency assets, keeping India’s overall reserves at a strong level of over USD 700 billion.