India's foreign exchange reserves fell for a sixth week in a row to $719.75 billion on 23 October, Reserve Bank of India (RBI) data show, about $61 billion below the $780.78 billion recorded on 11 September.
The latest weekly fall was small: $1.27 billion. And it came almost entirely from gold. The value of the RBI's gold holdings dropped by $2.65 billion during the week, while foreign currency assets, the largest part of the reserves, rose by $1.36 billion.
Week by week
| Reserves as on | Total ($ billion) | Change in the week ($ billion) |
|---|---|---|
| 11 September | 780.78 | — |
| 18 September | 765.90 | −14.88 |
| 25 September | 747.56 | −18.34 |
| 2 October | 734.61 | −12.95 |
| 9 October | 726.03 | −8.58 |
| 16 October | 721.02 | −5.01 |
| 23 October | 719.75 | −1.27 |
The weekly falls have become smaller each week since late September.
What makes up the reserves (23 October)
- Foreign currency assets: $593.21 billion
- Gold: $103.15 billion
- Special Drawing Rights (SDRs): $18.61 billion
- Reserve position in the IMF: $4.79 billion
Are the reserves "running out"?
No. Despite the recent slide, reserves are still $28.64 billion higher than at the end of March 2026 and $24.39 billion higher than a year earlier, according to the same RBI table.
The RBI's weekly data do not say why reserves moved. Changes can come from the central bank buying or selling dollars, and from changes in the value of gold and of non-dollar currencies it holds. This week, the split shows gold valuations pulled the total down.
The rupee
The rupee's daily rate against the dollar, from European Central Bank reference rates:
Chart · India in Data
Rupee per US dollar — daily
94.96
₹ per US$ · 30 Oct 2026
▲ +6.24 vs 30 Oct 2025
Source: European Central Bank · Checked 1 Nov 2026, 6:30 AM IST
How we verified this
VerifiedAll reserve figures are from the RBI Weekly Statistical Supplement extracts. Week-by-week values were checked against each extract’s weekly variation (for example, 16 October = 23 October total + the week’s fall). The 11 September figure is from the RBI extract of 18 September. The cumulative fall is BDT’s arithmetic. The RBI extracts do not give reasons for the changes, so none are suggested beyond the component split shown.
Sources
- 1.RBI Bulletin Weekly Statistical Supplement – Extract (30 October 2026): reserves as on 23 October — Reserve Bank of India
- 2.Weekly Statistical Supplement – Extract (9 October 2026): reserves as on 2 October — Reserve Bank of India
- 3.Weekly Statistical Supplement – Extract (2 October 2026): reserves as on 25 September — Reserve Bank of India
- 4.Weekly Statistical Supplement – Extract (18 September 2026): reserves as on 11 September — Reserve Bank of India
