Business · Markets · 7 hrs ago
India's foreign exchange reserves fall to $717.06 billion
India's foreign exchange reserves fell by $2.69 billion to $717.06 billion in the week ended 30 October, their second weekly decline.
The reserves are down $68.65 billion from a record high in September, but remain $25.95 billion above their end-March level.
The RBI has sold dollars to support the rupee, buying rupees to limit sharp currency movements and reducing its dollar reserves.
The decline also reflects the use of funds raised through a special swap scheme that attracted foreign currency deposits from non-resident Indians.
Those swap inflows are not permanent additions because banks must buy the dollars back when the agreements end.
Changes in the dollar value of other currencies held by the RBI also affect the reported reserves, so the fall does not equal the amount of dollars sold.
Reserves remain a buffer against external shocks, and the latest decline does not by itself show that India's external finances have weakened.
India’s foreign exchange reserves fell by $2.69 billion to $717.06 billion in the week ended 30 October 2026.
The decline was the second consecutive weekly fall, according to the Reserve Bank of India’s data.
The drawdown has been attributed partly to RBI dollar sales to support the rupee, deployment of FCNR(B) resources and changes in the dollar value of reserve assets.
Reserves were $68.65 billion below their record high of $785.71 billion in the week ended 4 September.
They remained $25.95 billion above their end-March 2026 level.
- Who
- India’s Reserve Bank reported the reserve figures.
- What
- Foreign exchange reserves fell by $2.69 billion to $717.06 billion.
- When
- In the week ended 30 October 2026; the RBI released the data on 6 November.
- Where
- India.
- Why
- The decline was attributed partly to RBI dollar sales to support the rupee, deployment of FCNR(B) resources and changes in the dollar value of reserve assets.
This story does not have two clearly opposing sides.
The RBI introduced a dollar-rupee swap facility to attract foreign currency deposits from NRIs.
The Finance Ministry said the facility had mobilised $73 billion in foreign exchange inflows.
RBI disclosures put total inflows under the broader facility at more than $136 billion.
India’s foreign exchange reserves reached a record $785.71 billion.
Reserves fell by $2.69 billion to $717.06 billion.
The RBI released its weekly statistical supplement.
- Total reserves
- $717.06 billion in the week ended 30 October 2026
- Weekly change
- Down $2.69 billion
- Record high
- $785.71 billion in the week ended 4 September 2026
- Foreign currency assets
- $591.12 billion on 30 October 2026
- Gold reserves
- $102.59 billion on 30 October 2026