India’s foreign exchange reserves short by $3.471 billion to $667.386 billion

India’s foreign exchange reserves (forex) fell by $3.471 billion, bringing the total to $667.386 billion as of the week ending July 26, according to data from the Reserve Bank of India (RBI).

In the week prior, the reserves had seen an increase of $4.003 billion, reaching a record high of $670.857 billion.

For the week ending July 26, the components of the forex reserves showed the following changes:

Foreign Currency Assets: These declined by $1.171 billion, settling at $586.877 billion.

Gold Reserves: These saw a significant drop of $2.297 billion, bringing their total to $57.695 billion.

Special Drawing Rights (SDRs): These decreased slightly by $5 million, totalling $18.202 billion.

Reserve Position with the IMF: This increased by $2 million, reaching $4.612 billion.

In short, India’s total forex reserves fell by $3.471 billion in one week due to decreases in foreign currency assets, gold reserves, and SDRs, even though the reserve position with the IMF saw a small increase.