India's forex reserves dropped $2.1B to $723.6B by Feb 20, mainly due to lower gold and currency assets, but remain sufficient to cover over 11 months of imports.

India’s foreign exchange reserves fell by $2.119 billion to $723.608 billion in the week ending February 20, primarily due to declines in gold and foreign currency assets, according to the Reserve Bank of India. Despite the dip, reserves remain strong, covering more than 11 months of imports, and have risen significantly over the past three years, reversing a prior decline. The RBI continues to manage currency stability through market interventions.