India's foreign exchange reserves decreased $3.709bn to $701.176bn on October 4, primarily due to a $3.511bn decline in foreign currency assets.
India's foreign exchange reserves decreased by $3.709 billion to $701.176 billion as of October 4, according to the Reserve Bank of India. This decline follows a record high of $704.885 billion the previous week. The drop was primarily due to a $3.511 billion reduction in foreign currency assets. Gold reserves fell by $40 million, and Special Drawing Rights decreased by $123 million. Despite the decline, India remains the fourth-largest holder of forex reserves globally.
October 11, 2024
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