Reserve Bank of India reports forex reserves down $9.99 billion
Business
India's foreign exchange reserves dropped by $9.99 billion last week, landing at $671.63 billion as of June 12, 2026.
The main reason? A sharp fall in gold reserves, which overshadowed gains in other assets, according to the Reserve Bank of India.
Gold reserves drop $10.75 billion
Gold reserves fell by $10.75 billion, by far the biggest drop, while foreign currency assets (FCAs) actually rose by $846 million to reach $544.29 billion.
Special Drawing Rights (SDRs) and India's International Monetary Fund reserve position (IMF) also slipped a bit.
Still, if you zoom out, total foreign exchange reserves are up $27.33 billion compared to last year, thanks mostly to strong growth in FCAs.