NEW DELHI DEC 07:The Reserve Bank of India (RBI) reported a fresh dip in India’s foreign exchange reserves, which fell by USD 1.877 billion for the week ending November 28, settling at USD 686.227 billion, as per the latest weekly statistical supplement.
This follows a steeper drop of USD 4.472 billion in the previous week (ending November 21), when reserves stood at USD 688.104 billion, primarily due to declines in foreign currency assets and gold holdings. The forex reserves have maintained a downward trajectory over recent weeks.
Foreign currency assets (FCA)—the dominant segment of the reserves—plummeted by USD 3.569 billion to USD 557.031 billion. In a contrasting development, gold reserves rose by USD 1.613 billion to USD 105.795 billion, buoyed by the safe-haven asset’s sharp price rally amid global uncertainties and strong investor demand.
Additional components showed marginal gains: Special Drawing Rights (SDRs) with the IMF climbed USD 63 million to USD 18.628 billion, while India’s reserve position in the IMF increased USD 16 million to USD 4.772 billion.
Foreign exchange reserves comprise assets held by the central bank in major currencies like the US dollar, Euro, Japanese Yen, and Pound Sterling. Historically, India bolstered its kitty by USD 58 billion in 2023 after a USD 71 billion erosion in 2022. Reserves grew modestly by over USD 20 billion in 2024, and have cumulatively risen about USD 48 billion so far in 2025.
The RBI actively manages these reserves through liquidity interventions, selling dollars to curb rupee depreciation during weakness and buying when the currency strengthens, ensuring exchange rate stability.
