The decline in reserves was caused by a drop in gold holdings and foreign currency assets, according to Reserve Bank of India data.
India's foreign exchange reserves decreased by $2.691 billion to $717.056 billion in the week ended October 30, according to data released by the Reserve Bank of India (RBI) on Friday, as reported by ANI.
The reduction was primarily due to lower values in gold holdings and foreign currency assets, which constitute the majority of the nation's reserves.
Foreign currency assets, the largest component, dropped by $2.088 billion to $591.118 billion, while gold reserves fell by $559 million to $102.591 billion during the week.
Special Drawing Rights (SDRs) also saw a $47 million decline to $18.558 billion, though the reserve position with the International Monetary Fund (IMF) rose by $3 million to $4.790 billion.
In rupee terms, the total reserves stood at Rs 68.09 lakh crore as of October 30, representing a weekly decrease of Rs 24,777 crore.
Despite this weekly dip, reserves remain higher than the levels recorded at the end of March 2026 and are up by $27.324 billion compared to a year ago.
