India Foreign Exchange Reserves Fall to $719.75 Billion
The Reserve Bank of India reported a $1.27 billion drop in foreign exchange reserves driven primarily by gold revaluation losses.
India's foreign exchange reserves decreased by $1.27 billion to $719.75 billion for the week ending October 23, 2026. Data released by the Reserve Bank of India on October 30 shows the decline was primarily caused by a $2.65 billion revaluation loss in gold reserves, which dropped to $103.15 billion.
This gold loss offset a $1.36 billion increase in foreign currency assets, which rose to $593.21 billion. The data also revealed a $0.7 billion net sale of dollars by the central bank. Gaura Sengupta, chief economist at IDFC First Bank, noted that the relatively low net selling of dollars suggests that recent stabilization measures have had a good impact.
To support the rupee and lower dollar demand throughout October, the Reserve Bank of India introduced a special dollar-selling window for three public sector oil marketing companies. The central bank also imposed stricter limits on the net open positions of banks regarding the rupee and foreign exchange derivative positions.
