India's foreign exchange reserves dropped by $5.7 billion, but gold holdings increased.

India's foreign exchange reserves fell by $5.7 billion to $634.59 billion by January 3, 2025, as reported by the Reserve Bank of India (RBI). Despite the decline, gold reserves rose by $824 million to $67.1 billion, reflecting the RBI's strategy to buy gold as a safe-haven asset to mitigate inflation and foreign currency risks. The RBI has added 8 tonnes of gold to its reserves, totaling 876 tonnes as of November 2024.

January 10, 2025
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