Forex Reserves Drop $6.9 Billion to $695.35 Billion

India's foreign exchange reserves fell to $695.355 billion for the week ended Oct. 24, 2025, according to data from the Reserve Bank of India (RBI) on Friday.

The country's forex kitty dipped by $6.9 billion over the previous reporting week. In the previous reporting week, the overall reserves had increased by $4.496 billion to $702.28 billion.

For the week ended October 24, foreign currency assets, a major component of the reserves, decreased by $3.862 billion to $566.548 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Value of gold reserves declined $3.01 billion to $105.536 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $58 million to $18.664 billion, the apex bank said.

India's reserve position with the IMF was up by $6 million at $4.608 billion in the reporting week, the apex bank data showed.

The rupee pared intra-day losses to settle flat at 88.69 (provisional) against the American currency on Friday, as weak domestic equities and a firm US dollar in overseas markets offset the gains from lower crude oil prices.

At the interbank foreign exchange market, the rupee opened at 88.60 and touched a high of 88.59 and a low of 88.78 against the greenback during the session. The local unit finally settled at 88.69 (provisional), unchanged from its previous closing level.

On Thursday, the rupee crashed 47 paise to settle at 88.69 against the US dollar after the US Federal Reserve Chair Jerome Powell flagged US inflation staying above the target level and uncertainties in the labour market, trimming hope for a further rate cut in the December policy.

(With PTI Inputs)