India’s foreign exchange reserves experienced a notable decline, dropping by $6.925 billion to reach $695.355 billion in the week ending October 24, 2025. This announcement was made by the Reserve Bank of India (RBI) on Friday, October 31, 2025. This downturn follows a period of growth, as the overall reserves had previously increased by $4.496 billion, reaching $702.28 billion in the prior reporting week.
A significant factor in this decrease was the foreign currency assets (FCA), a major component of these reserves, which fell by $3.862 billion to $566.548 billion during the week ended October 24. It’s important to note that these foreign currency assets, expressed in U.S. dollar terms, are influenced by the appreciation or depreciation of non-U.S. currencies like the euro, pound, and yen held within the broader foreign exchange reserves.
Adding to the decline, the value of India’s gold reserves also decreased, falling by $3.01 billion to $105.536 billion over the same period, according to the RBI. The Special Drawing Rights (SDRs) also saw a reduction, down by $58 million to $18.664 billion. In contrast, India’s reserve position with the International Monetary Fund (IMF) showed a slight uptick, rising by $6 million to $4.608 billion during the reporting week, as per the apex bank’s data.