India’s forex reserves dip $5.6 bn to $689.73 bn in week ended Oct 31

India’s foreign exchange reserves fell by USD 5.6 billion to USD 689.73 billion in the week ended October 31, according to data from the Reserve Bank of India (RBI). The drop reflected reductions in foreign-currency assets (down about USD 1.9 billion) and gold holdings (down about USD 3.8 billion). 

Despite the decline, reserves still cover more than 11 months of merchandise imports, indicating resilience in India’s external sector and sufficient buffers amid global volatility. :contentReference