India's forex reserves drop to $717.056 billion amid RBI sales
Business
India's foreign exchange reserves just slipped by $2.691 billion, landing at $717.056 billion for the week ending October 30, 2026.
That's a steady drop from their all-time high in early September.
The drawdown was partly due to the Reserve Bank of India selling dollars to keep the rupee stable and using up some special overseas deposits.
Foreign currency assets fall $2.08 billion
Most of the fall came from a dip in foreign currency assets (down $2.08 billion), with gold reserves also shrinking by $559 million.
Even Special Drawing Rights (SDRs) dropped slightly, though India's position with the IMF nudged up a bit.
This isn't a one-off either; the reserves have been slipping week after week as the RBI works to manage currency swings and keep things steady for the economy.