India’s foreign exchange reserves decreased by $5.011 billion, settling at $721.016 billion for the period concluding October 16, according to a notification released by the Reserve Bank of India on Friday.
For the week ended October 16, holdings of foreign currency, a significant element of reserves, declined by $5.758 billion, registering at $591.847 billion. The value of Special Drawing Rights increased by $30 million, reaching $18.578 billion. Gold reserves appreciated by $706 million, ascending to $105.8 billion, according to the central bank. India's foreign exchange reserves held at the International Monetary Fund advanced by $11 million, reaching $4.791 billion.