India's Forex Reserves Plummet While Gold Shines Bright

India's forex reserves took a nosedive, plunging by $5 billion to $721 billion as of October 16. After a record high of $785 billion in September, the reserves have been on a slippery slope, thanks to some currency defense moves. But hey, gold reserves shined a bit brighter, rising by $706 million to $105.8 billion!