In brief
India’s foreign exchange reserves slipped to $719.748 billion in the week ended Oct. 23, marking a 1.269 billion‑dollar fall, the seventh consecutive weekly decline. Reserve Bank of India data show foreign currency assets rose to $593.205 billion while gold holdings fell to $103.15 billion. The prior week saw a drop of more than $5 billion.
India’s foreign‑exchange reserves fell by 1.269 billion U.S. dollars to 719.748 billion in the week ended Oct. 23, according to the Reserve Bank of India (RBI) bulletin released Friday, as reported by Xinhua.
For the first time in seven straight weeks, the central bank’s weekly statement shows a decline, the latest in a string of falling reserves that has weighed on market sentiment.
RBI data indicate that the reserves’ Foreign Currency Assets (FCAs) actually rose, reaching 593.205 billion dollars, an increase of 1.358 billion dollars over the previous week.
In contrast, gold holdings fell sharply, dropping to 103.15 billion dollars from 105.80 billion a week earlier, a decline of 2.65 billion dollars.
The preceding week’s bulletin recorded a much larger drop of over 5 billion dollars, the sharpest decline in more than a year.
Analysts say the trend of falling reserves may reflect continued outflows for foreign investment and possibly policy adjustments, though the RBI has not issued an explanation for the latest figures.
Investors and observers are monitoring the RBI’s data closely as they assess the implications for currency stability and India’s balance‑of‑payments outlook.
