India’s Forex Reserves Fall USD 6.7 Billion to USD 717.06 Billion

India’s foreign exchange reserves declined by USD 6.711 billion to USD 717.064 billion in the week ending February 6, 2026, the Reserve Bank of India (RBI) reported on Friday. This followed a sharp rise in the previous week when reserves had surged USD 14.361 billion to an all-time high of USD 723.774 billion .

Breaking down the reserves, foreign currency assets (FCA) , the largest component, increased by USD 7.661 billion to USD 570.053 billion . These assets are denominated in major foreign currencies such as the euro, pound, and yen, with values adjusted for fluctuations against the US dollar.

In contrast, gold reserves saw a significant drop of USD 14.208 billion , falling to USD 123.476 billion . The decline in gold holdings was the primary factor behind the overall dip in the reserves for the week.

Other components of the reserves also recorded small decreases. Special Drawing Rights (SDRs) fell by USD 132 million to USD 18.821 billion , while India’s reserve position with the International Monetary Fund (IMF) declined by USD 32 million to USD 4.715 billion.

Analysts say such movements in reserves are influenced by a combination of currency market fluctuations, global economic developments, and RBI interventions aimed at maintaining stability of the Indian rupee. Despite the weekly drop, India’s forex reserves remain among the largest in the world , providing a strong buffer against external shocks, supporting investor confidence, and ensuring macroeconomic stability.

The RBI’s weekly data underlines that while foreign currency holdings have strengthened, gold and IMF-related components continue to be sensitive to global market dynamics, reflecting the complex nature of reserve management in a volatile economic environment.