In the preceding week, which ended on July 25, reserves had risen by $2.7 billion to stand at $698.19 billion.
Foreign currency assets, constituting the largest segment of the reserves, dropped by $7.31 billion to $581.61 billion during the same period. These assets, when measured in US dollars, reflect the impact of movements in other major global currencies—such as the euro, pound sterling, and yen—held within the reserve portfolio.
Gold holdings also fell, decreasing by $1.7 billion to $83.99 billion, as per the central bank’s release.
Moreover, Special Drawing Rights (SDRs) noted a drop of $237 million, bringing the total to $18.57 billion. Meanwhile, India’s reserve position with the International Monetary Fund (IMF) decreased by $120 million, reaching $4.69 billion during the reporting period.
The Reserve Bank of India routinely monitors developments in the foreign exchange market and undertakes interventions when necessary to preserve orderly trading conditions. Such interventions aim to moderate undue volatility in the rupee’s exchange rate and are not guided by any fixed exchange rate target or band.
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