India's forex reserves drop by $3.709 billion

India's foreign exchange reserves dropped by USD 3.709 billion to USD 701.176 billion as of October 4, according to RBI data. This decline follows an earlier surge, with significant decreases in foreign currency assets, gold reserves, SDRs, and the IMF reserve position. The decline in assets notably included the impact of exchange rate movements of the euro, pound, and yen.