What changed and why
India's foreign-exchange stockpile had its steepest weekly decline on record, falling by $18.34 billion and ending the Sept. 25 week at $747.56 billion. The figures, published Friday, mark the biggest one-week fall in the available history.
How the RBI stepped in
To support the rupee, the central bank sold dollars and also carried out sell-buy swaps in the currency market. In those operations, the RBI provides dollars to banks in exchange for rupees and agrees to purchase the US currency back later. A slide in gold prices during the period also led to some revaluation of the reserves.
The rupee's backdrop
This year, the rupee has trailed most Asian peers, burdened by more expensive crude and by overseas investors withdrawing funds from domestic markets. It posted its largest drop in more than two months on Thursday, touching 96.3212 per dollar. Markets were shut on Friday for a local holiday.
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What this means for your money
A record weekly draw on reserves signals active currency support alongside a valuation hit from weaker gold. For anyone with exposure tied to India or the rupee, these policy moves and price swings shape near term currency risk and returns.
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