Overview
- Total reserves declined by $5.6 billion to $689.73 billion in the week to October 31, after a $6.92 billion drop the previous week.
- Foreign currency assets fell by about $1.96 billion to $564.59 billion, reflecting currency valuation effects in the basket.
- The dollar value of gold holdings decreased by $3.81 billion to $101.73 billion as recent price swings cut valuations.
- SDRs slipped by $19 million to $18.64 billion, while India’s IMF reserve position was reported higher with conflicting estimates of the increase.
- The central bank said it monitors FX markets and intervenes when needed to curb undue rupee volatility without targeting a fixed exchange rate.