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Gold reserves fall $1.425 billion to $42.306 billion; special drawing rights decline by $15 million to $17.923 billion

India's foreign exchange reserves fell by $2.166 billion to $584.742 billion for the week ending October 6, according to the Reserve Bank of India (RBI). The drop in reserves was primarily due to a decrease in foreign currency assets and gold reserves. The country's forex kitty had reached a record high of $645 billion in October 2021, but has been declining as the central bank uses the reserves to defend the rupee against global pressures.

The country's forex reserves dropped by a further $2.166 billion to $584.74 billion for the week ended October 6, the RBI said on Friday. India's forex kitty had gone down by $3.79 billion to $586.91 billion in the previous week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.

Gold reserves are down by $576 million to $43.731 billion, special drawing rights decline $74 million to $17.939 billion

The country’s reserve position with the IMF was also down by USD 18 million to USD 5.002 billion in the reporting week, the central bank data showed.