India’s foreign exchange reserves decreased to near a two-month trough for the week concluded October 23, reflecting a seventh consecutive week of contraction. The reserves totaled $719.75 billion, a decline of $1.27 billion over the weekly period. The decrease was primarily attributable to valuation fluctuations in the Reserve Bank of India's gold holdings, which were recorded at $103.1 billion, a week-over-week decrease of $2.6 billion. Conversely, foreign currency assets, the largest constituent of India’s forex reserves, rose by $1.36 billion, reaching $593.21 billion. The reserves attained a historic high of $785.706 billion for the week ending September 4 but have experienced a seven-week downward trend since then.