India Foreign Exchange Reserves Drop to $734.61 Billion
The Reserve Bank of India sold $7.5 billion in net dollars to stabilize the rupee, contributing to a four-week decline in foreign exchange reserves.
India's foreign exchange reserves fell by approximately $12.95 billion to $734.61 billion for the week ended October 2, 2026. This decline marks the fourth consecutive week of losses, with total reserves dropping roughly $51.1 billion from a peak of $785.71 billion recorded on September 4.
The Reserve Bank of India drove the decrease primarily through the sale of approximately $7.5 billion in net dollars to stabilize the rupee. This intervention, combined with revaluation losses in gold and foreign currency assets, led to a $10.66 billion decrease in foreign currency assets, bringing them to $604.75 billion. Gold reserves also fell by $2.29 billion to $106.41 billion.
Other adjustments included a $15 million increase in Special Drawing Rights, which rose to $18.66 billion. Simultaneously, India's reserve position with the International Monetary Fund decreased by $15 million to $4.79 billion.
