India's foreign exchange reserves dip to $766 billion amid sharp currency asset decline
India's foreign exchange reserves fell to $765.901 billion for the week ending September 18, driven by a $14.881 billion drop in foreign currency assets.
According to data released by the Reserve Bank of India, the nation's foreign exchange reserves contracted to $765.901 billion for the week ending September 18. The primary cause was a $14.816 billion reduction in foreign currency assets, which now stand at $630.980 billion. In contrast, the value of gold reserves increased modestly by $68 million, reaching $111.292 billion.
Special Drawing Rights (SDRs) fell by $106 million to $18.739 billion, and India's reserve position with the International Monetary Fund stayed at $4.89 billion. The previous week had seen a smaller decline of $4.924 billion, bringing the prior total to $780.782 billion.
Why it matters
The drop signals pressure on India's external buffers and could affect currency stability and investor confidence.
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