India’s Forex Reserves Dip to $687 Billion Amid Continued Decline in Currency and Gold Assets

India’s foreign exchange reserves declined by USD 2.699 billion to USD 687.034 billion during the week ended November 7, according to the Reserve Bank of India (RBI) report released on November 14. This marks the third consecutive weekly decline, following a sharp fall of USD 5.623 billion the previous week.

The foreign currency assets (FCA), which form the largest component of the reserves, dropped by approximately USD 2.454 billion to USD 562.137 billion. The decline reflects the impact of international currency fluctuations, including the euro, pound, and yen.

Gold reserves also saw a marginal decrease, falling by USD 195 million to USD 101.531 billion, as gold prices softened. Additionally, Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) reduced by USD 51 million to USD 18.594 billion. However, India’s reserve position with the IMF remained stable at USD 4.772 billion.

This sustained drawdown in reserves underscores the pressures of global economic dynamics and currency market volatilities impacting India’s external buffer.

Key Highlights:

Forex reserves fell by USD 2.699 billion to USD 687.034 billion (week ending November 7, 2025)

Foreign currency assets decreased by USD 2.454 billion to USD 562.137 billion

Gold reserves declined by USD 195 million to USD 101.531 billion

SDRs fell by USD 51 million to USD 18.594 billion

Reserve position with IMF steady at USD 4.772 billion

The forex kitty has been on a declining trend for three weeks consecutively

Source: Reserve Bank of India (RBI), Press Trust of India (PTI), The Week, Economic Times, Rediff Money