India's foreign exchange reserves fell by $4.89 billion to $685.73 billion

NEW DELHI: India's foreign exchange reserves fell by $4.89 billion to $685.73 billion for the week ending May 16, according to the Reserve Bank of India (RBI) on Friday.

The previous week, reserves had risen by $4.55 billion to $690.62 billion. In late September 2024, reserves hit an all-time high of $704.88 billion.

Foreign currency assets, a key component, increased by $279 million to $581.65 billion during the week. These assets, expressed in USD, reflect fluctuations in non-US currencies like the euro, pound, and yen held in the reserves.

Gold reserves, however, dropped by $5.12 billion to $81.22 billion, after a $4.52 billion surge the previous week.

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