Overview
- The Reserve Bank of India reported that for the week ended June 12 its foreign exchange reserves fell about $9.99 billion to $671.63 billion, driven mainly by a fall in the dollar value of gold holdings.
- Gold reserves declined by $10.75 billion to $103.82 billion, more than offsetting a modest rise in foreign currency assets.
- Foreign currency assets, the largest reserve component, rose $846 million to $544.29 billion while Special Drawing Rights fell $66 million and the IMF reserve position slipped $11 million.
- On a year‑on‑year basis total reserves were higher by $27.33 billion and FCAs were up $45.14 billion, leaving India with a sizable buffer against external shocks.
- Because weekly Reuters‑reported changes often reflect market valuation moves in gold prices and non‑US currencies rather than transactions, the RBI says it will continue to monitor markets and intervene as needed to keep conditions orderly.