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of <h1>India's Forex Reserves Drop by $8.7B Due to Market Interventions, Currency Revaluation; Gold Reserves Rise by $792M.</h1> India's foreign exchange reserves fell by USD 8.714 billion to USD 625.871 billion in the week ending January 10, as reported by the Reserve Bank of India (RBI). This decline follows a previous drop of USD 5.693 billion the week before. The decrease is attributed to revaluation and RBI's interventions in the forex market to manage rupee volatility. Foreign currency assets, a significant part of the reserves, decreased by USD 9.469 billion to USD 536.011 billion. Meanwhile, gold reserves rose by USD 792 million to USD 67.883 billion. Special Drawing Rights and India's IMF reserve position also saw slight reductions.
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