RBI reserves this week: Forex reserves dip by $3.06 billion to $696.67 billion, SDRs and IMF position also lower

India’s foreign exchange reserves experienced a decline of $3.064 billion, reaching $696.672 billion in the week ending July 11, marking the second consecutive weekly drop. The fall was primarily driven by a decrease in foreign currency assets and gold reserves. Despite the recent dips, the reserves remain slightly below the all-time high recorded in late September 2024.