India’s reserves fell to $726.027 billion, according to data released by the Reserve Bank of India on October 16. The weekly declines reported in its last two releases total $21.53 billion.
India’s foreign exchange reserves fell $8.578 billion to $726.027 billion in the week ended October 9. The Reserve Bank of India (RBI) published the figures in its October 16 weekly statistical supplement.
The previous release reported a $12.952 billion decline for the week ended October 2. The weekly falls reported across the two releases add up to $21.53 billion. The weekly loss has narrowed in both releases since the $18.3 billion drop for the week ended September 25.
Foreign currency assets account for most of the decline
Foreign currency assets, the largest component of the reserves, fell $7.142 billion to $597.605 billion. The dollar value of gold reserves dropped $1.319 billion to $105.094 billion. Together, those two components accounted for almost all of the weekly fall.
| Reserve component | October 9 level ($bn) | Weekly change ($bn) |
|---|---|---|
| Foreign currency assets | 597.605 | −7.142 |
| Gold | 105.094 | −1.319 |
| Special Drawing Rights (SDR) | 18.548 | −0.109 |
| International Monetary Fund (IMF) reserve position | 4.780 | −0.010 |
| Total | 726.027 | −8.578 |
The RBI notes that components may not add up to the total because of rounding. Its year-on-year comparison still shows a $28.244 billion increase in total reserves. Reserves were also $34.920 billion above their level at the end of March 2026.
A reserve decline is not a sales figure: This table reports the dollar value of reserve holdings, without separately identifying the week’s currency intervention amount. A fall in the dollar value of gold also does not establish that an equivalent quantity of physical gold was sold.
The oil-company dollar window started after this period
In a separate October 10 announcement, the RBI said it would open a special dollar window to meet the entire daily dollar requirements of three public sector oil marketing companies: Indian Oil, Hindustan Petroleum and Bharat Petroleum. Dollar sales would take place through designated banks.
The facility began on Monday, October 12, and will remain in place until further notice. The October 9 reserve figures do not yet cover sales through this facility. The announcement gives no daily or total dollar-sales amount for the program.
