India’s foreign exchange reserves took a noticeable dip of $5.6 billion, falling to $689.73 billion in the week ending October 31, 2025, the Reserve Bank of India (RBI) announced on Friday. This came right after a steep decline of $6.92 billion to $695.36 billion in the previous week, highlighting a shaky ride for the nation’s forex stash. Breaking it down, the foreign currency assets, which form the lion’s share of the reserves, dropped $1.9 billion to stand at $564.59 billion. Remember, these assets count the ups and downs of non-US currencies like the euro, pound, and yen when converted to dollars, adding an extra twist to the numbers. Meanwhile, gold reserves shimmered less brightly, falling $3.8 billion to $101.72 billion in just one week. This is quite notable because the RBI’s gold pile had recently smashed a record, crossing $100 billion in October during a strong rally in global gold prices—only to hit a sharp fall afterward. Special Drawing Rights (SDRs), which are another part of reserves linked to the International Monetary Fund (IMF), slipped slightly by $19 million to $18.64 billion. On a brighter note, India’s reserve position with the IMF rose a bit, up $16.4 million to $4.77 billion, offering a small silver lining. The RBI keeps a close eye on the foreign exchange market every week and steps in when needed to keep trading smooth and stable. The central bank clarifies, “Such interventions aim to moderate undue volatility in the rupee’s exchange rate and are not guided by any fixed exchange rate target or band.” So, it’s a careful balancing act, managing the rupee’s value amid global market swings. In short, India’s forex reserves have been on a bit of a bumpy ride lately, wobbling like a roller coaster. But the RBI’s watchful eye tries to steady the ride for India's economy and currency.