India's forex reserves drop by $396 million: RBI
India's foreign exchange reserves slipped by $396 million to $702.57 billion for the week ending September 19, 2025, breaking a three-week streak of gains.
The reserves had climbed from $694.2 billion in late August to a high of $704.89 billion in late September 2025 before this drop, according to the Reserve Bank of India (RBI).
Foreign currency assets fell by $864 million
Most of the decline came from foreign currency assets, which fell by $864 million to $586.15 billion, which can reflect currency movements and, at times, RBI interventions.
On the bright side, gold reserves actually went up by $360 million to hit $92.78 billion, and India's holdings with the IMF saw small increases too.
RBI's role in forex market
The RBI regularly steps into the forex market—buying or selling dollars—to keep rupee swings in check and maintain stability when global markets get shaky.
This dip shows just how tricky it is for RBI to balance things behind the scenes so that everyday economic life stays smooth for everyone.