CHENNAI: 22/07/2025: A view of the US Doller…..Photo: SRINATH M/ THE HINDU
| Photo Credit:
SRINATH M
India’s forex reserves jumped by $4.49 billion week-on-week to $702.28 billion as on October 17, primarily led by sharp rise in gold reserves, according to data released by the Reserve Bank of India.
Foreign currency assets (FCA) — which include investment in securities, deposits with other central banks and the BIS, and deposits with commercial banks overseas — stood at $570.41 billion, down $1.69 billion compared to last week.
During the week ended October 17, the RBI bought gold amounting to $6.18 billion, taking the overall share of gold in forex reserves to $108.54 billion.
The RBI has been swiftly building its gold reserves this year and lowering investment in US bonds to diversify its reserves from the US dollar, analysts say. In fact, regulators across emerging countries, especially in Asia, are buying gold and de-dollarising on account of growing practise of a few countries of freezing other countries’ overseas held assets during geo-political crises.
Special Drawing Rights (SDRs), which refers to India’s commitment to provide resources under the International Monetary Fund’s (IMF) New Arrangements to Borrow (NAB) and investment in SDR denominated Notes issued by IMF, was at $18.72 billion, while the reserve tranche position in IMF stood at $4.60 billion.
Published on October 24, 2025
