India's foreign exchange reserves fall to $765.90 billion

India's foreign exchange reserves decreased by $14.88 billion during the week ending September 18, falling to a total of $765.90 billion. This is a decline from the $780.78 billion recorded in the week ending September 11.

According to data from the Reserve Bank of India, the primary driver for this reduction was a drop in foreign currency assets, which decreased by $14.82 billion to reach $630.98 billion. In contrast, India's gold reserves saw an increase of $68 million, bringing the total gold holdings to $111.29 billion.

Other components of the reserves also saw slight declines: Special Drawing Rights (SDR) fell by $106 million to $18.74 billion, and India's reserve position in the International Monetary Fund (IMF) decreased by $27 million to $4.89 billion. Despite this weekly fluctuation, the current reserves remain $74.79 billion higher than levels at the end of March 2024 and $63.33 billion higher than the same period last year.