Forex Reserves Soar to $707 Billion, Highest so Far in Current Fiscal
Foreign currency assets led the increase as the Reserve Bank said gold, SDRs and its IMF position also rose.
- India's foreign exchange reserves increased $14.136 billion to $707.002 billion for the week ended August 7, the Reserve Bank said on Friday.
- Reserves previously hit an all-time high of $728.494 billion during the week ended February 27 before West Asia conflict triggered currency pressure, forcing the RBI to intervene through dollar sales.
- Foreign currency assets drove the gains, rising $9.946 billion to $574.625 billion, while Gold reserves grew $3.995 billion to $108.738 billion; SDRs and the International Monetary Fund reserve position added smaller gains.
- The Indian Rupee appreciated 3 paise against the USD to close at 95.42 on Friday, though traders noted continued pressure from foreign fund outflows and rising crude oil prices amid geopolitical uncertainties.
- Authorities launched the FCNR scheme in July to attract foreign capital inflows, complementing the reserve recovery that has climbed $15.894 billion since the end of March 2026.
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Forex reserves soar to $707 billion, highest so far in current fiscal
India's foreign exchange reserves increased by $14.1 billion to $707 billion. Foreign currency assets rose by $9.9 billion, and gold reserves gained $3.9 billion. These reserves have now declined from their earlier peak of $728 billion. Further inflows are expected from FCNR(B) and ECB schemes until August 31. The Reserve Bank of India received $56.8 billion in foreign currency inflows.
Forex kitty swells $14.1 b to 4-month high of $707 b on strong dollar inflows
The rise was led by a $9.9 billion weekly gain in the central bank's foreign currency assets, which are the largest component of the reserves and the same was aided by the continuing inflows.
India's Forex Reserves Jump USD 14.14 Billion to USD 707 Billion
Get latest articles and stories on Business at LatestLY. Gold reserves also recorded a substantial increase, rising by USD 4.00 billion during the week to USD 108.74 billion. Business News | India's Forex Reserves Jump USD 14.14 Billion to USD 707 Billion.
Forex reserves up by $14.1 billion to $707 billion
India's foreign exchange reserves saw a jump of over fourteen billion dollars. Foreign currency assets and gold reserves contributed substantially to this overall increase. The Indian Rupee also appreciated slightly against the US dollar on Friday. Forex traders noted pressure on the rupee due to fund outflows and oil prices. Overall reserves have risen considerably since March and over the past year.
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