India's foreign exchange reserves fall by $8.58 billion in week to Oct. 9

In the week ending Oct. 9, India's foreign exchange reserves contracted to $726.03 billion, a reduction of $8.58 billion, as disclosed by the Reserve Bank of India. Foreign currency assets, the biggest share of the reserves, fell by $7.142 billion, settling at $597.605 billion. The value of gold reserves declined by $1.319 billion, bringing the total to $105.094 billion. Special Drawing Rights, an IMF-created reserve asset, slipped by $109 million to $18.548 billion. Additionally, India's reserve position with the IMF decreased by $10 million, now standing at $4.78 billion.