MUMBAI: India’s foreign exchange reserves fell by $14.9 billion to $765.9 billion in the week ended Sept 18, according to the RBI’s weekly statistical data. The decline was driven mainly by a fall in foreign currency assets (FCA), the largest component of the reserves. FCA fell by $14.8 billion to $631 billion during the week.Gold reserves rose marginally by $68 million to $111.3 billion. Special drawing rights fell by $106 million to $18.7 billion, while India’s reserve position in the IMF declined by $27 million to $4.9 billion. The weekly decline comes after a period of strong accumulation in the reserves. Since the end of March 2026, the reserves are still higher by $74.8 billion.On a year-on-year basis, the reserves are up by $63.3 billion. Bankers said the decline could be due to dollar sales by the RBI to support the rupee. Changes in the value of major currencies held in the RBI’s foreign currency assets can also affect the reserves when measured in dollar terms. tnn
