India’s foreign exchange reserves decreased by $8.578 billion, settling at $726.027 billion as of the week concluded October 9, according to data published by the Reserve Bank of India on Friday. The prior reporting period witnessed a decline of $12.952 billion, bringing the reserves to $734.606 billion. India’s forex reserves previously reached a peak of $785.706 billion in the week ending September 4. For the week ended October 9, foreign currency assets, representing the largest constituent of the reserves, diminished by $7.142 billion to $597.605 billion. The valuation of India’s gold reserves also experienced a reduction during the period, decreasing by $1.319 billion to $105.094 billion. Special Drawing Rights (SDRs) held with the International Monetary Fund decreased by $109 million to $18.548 billion. India’s reserve position with the IMF also saw a slight decrease of $10 million to $4.78 billion. Total forex reserves have receded approximately 7.5% from the record high.