India's forex reserves decline by $2.69 billion to $717.06 billion as of October 30

New Delhi: India's foreign exchange reserves declined by $2.691 billion to $717.056 billion in the week ended October 30, according to the latest data released by the Reserve Bank of India (RBI) on Friday.

The decline was primarily driven by a fall in foreign currency assets and gold reserves, which together account for the bulk of the country's foreign exchange holdings.

Foreign currency assets, the largest component of the reserves, declined by $2.088 billion to $591.118 billion during the week. Gold reserves fell by $559 million to $102.591 billion.

Special Drawing Rights (SDRs), the reserve assets allocated by the International Monetary Fund (IMF), also declined by $47 million to $18.558 billion.

However, India's reserve position with the IMF increased marginally by $3 million to $4.790 billion during the reporting week.

In rupee terms, total foreign exchange reserves stood at Rs 68.09 lakh crore as of October 30, down Rs 24,777 crore from the previous week.

Despite the weekly decline, India's foreign exchange reserves remained higher than their levels at the end of March 2026. The reserves increased by $25.949 billion from the end-March level, while the corresponding increase in rupee terms stood at Rs 2.55 lakh crore.

On an annual basis, the country's foreign exchange reserves registered an increase of $27.324 billion, or Rs 6.86 lakh crore, indicating an overall expansion in the country's external reserve position over the past year.

Among the components, foreign currency assets recorded an annual increase of $26.527 billion, while gold reserves rose by $865 million. SDR holdings, however, declined by $87 million over the same period, while the reserve position in the IMF increased by $18 million.

The weekly contraction comes even as the overall reserve position remains above its end-March and year-ago levels.