• Reserves fell to $698.35 billion, led largely by the value of the central bank’s gold holdings dropping by $13.5 billion week-on-week to $117.2 billion Reuters Published March 27, 2026 Updated about 14 hours ago MUMBAI: India’s foreign exchange reserves fell below the $700 billion mark in the week ended March 20, the first such fall since January and downfrom $709.76 billion a week earlier, data released by the Reserve Bank of India showed on Friday. Reserves fell to $698.35 billion, led largely by the value of the central bank’s gold holdings dropping by $13.5 billion week-on-week to $117.2 billion. Meanwhile, the value of foreign currency assets rose by $2.1 billion week-on-week. In the week to which the data pertained, gold prices had declined by 10% and the rupee fell to its then-record low of 93.7350 as worries over an elongated Iran war lifted oil prices, hurting Indian assets across the board. The currency has since extended its losses, falling to a record low of 94.84 on Friday, down over 5% year-to-date. India forex reserves adequate to cushion against external shocks, central bank report says…