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India's Forex Reserves See Sharpest Weekly Fall Since November
India keeps foreign money and assets as a safety cushion called foreign exchange reserves.
These reserves fell by $14.88 billion in one week.
They stood at $765.90 billion on September 18.
Most of the decrease came from foreign currency assets.
These assets include currencies such as the euro, pound, and yen.
Gold reserves actually increased slightly during the same week.
Special Drawing Rights decreased by $106 million.
The latest drop was the biggest weekly fall since November 2024.
The reserves are now about $19.1 billion below their record high reached on September 4.
India's foreign exchange reserves fell by $14.88 billion to $765.90 billion in the week ended September 18.
The decline was the sharpest weekly fall since November 2024, according to Reserve Bank of India data.
Foreign currency assets dropped by about $14.8 billion to $630.98 billion, driving most of the overall decrease.
Gold reserves increased by $68 million to $111.292 billion during the reporting week.
Special Drawing Rights fell by $106 million to $18.74 billion, while India's IMF reserve position remained at $4.89 billion.
- Who
- The Reserve Bank of India reported the change in India's foreign exchange reserves.
- What
- India's foreign exchange reserves fell by $14.88 billion to $765.90 billion.
- Where
- India.
- When
- For the week ended September 18; the data was released on Friday.
- Why
- The decline was largely caused by a $14.8 billion fall in foreign currency assets.
Key facts
- Total reserves
- $765.90 billion
- Weekly change
- Down $14.88 billion
- Foreign currency assets
- $630.98 billion, down about $14.8 billion
- Gold reserves
- $111.292 billion, up $68 million
- Special Drawing Rights
- $18.74 billion, down $106 million
- IMF reserve position
- $4.89 billion
- Previous week
- Reserves fell $4.92 billion to $780.78 billion
- Record high
- $785 billion in the week ended September 4
Sources
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