India forex reserves drop by 7.79 billion as gold and foreign assets slide sharply

Published on 8 May 2026

Gold reserves fell fast, dragging reserves lower

India’s foreign exchange reserves fell by $7.794 billion to $690.693 billion by May 1, after a prior decline that followed a February record high. The drop was mainly driven by lower foreign currency assets and a sharp fall in gold reserves, adding fresh pressure on the rupee amid shifting global conditions.

Forex reserves decline by $7.794 billion to $690.693 billion
Foreign currency assets fell, contributing to the drop
Gold reserves saw a sharp reduction
Reserves previously peaked in February

#foreign currency assets #rupee #gold #forex reserves #rbi

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India forex reserves drop by 7.79 billion as gold and foreign assets slide sharply

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