India's foreign exchange reserves slipped by $13 billion to $734.6 billion in the week ended Oct 2. The drop is significant given the consistent volatility in global markets.
Foreign currency assets, the biggest chunk of the reserve basket, lost $10.7 billion, ending at $604.7 billion. Gold reserves followed suit, shedding $2.3 billion to close at $106.4 billion.
Smaller components showed mixed results. The reserve position with the International Monetary Fund (IMF) dipped by $15 million to $48 billion. Meanwhile, special drawing rights (SDRs) ticked up by the same amount, reaching $18.6 billion.
The central bank will continue to manage these balances as global interest rate expectations and currency fluctuations persist. Analysts will watch the next weekly data release for signs of stabilization.