Mumbai, April 24: According to data released by the Reserve Bank of India (RBI) on Friday, India’s foreign exchange reserves increased by $2.3 billion in the week ending April 17. The total reserves now stand at $703.30 billion.
This rise comes at a time when the reserves had been under pressure due to global conditions and interventions in the currency market. Previously, in the week ending February 27, 2026, India’s foreign exchange reserves had reached a record high of $728.494 billion.
However, following the escalation of conflicts in the Middle East, this trend reversed, leading to a decline in reserves. The country’s gold reserves also continued to grow, surpassing $122.13 billion with a significant increase of $79 million.
During this period, Special Drawing Rights (SDR) rose slightly to $18.84 billion. Meanwhile, India’s reserve position with the IMF increased by $14 million to $48.70 billion.
Global uncertainties and capital outflows have put pressure on the rupee, prompting the RBI to intervene in the market by selling dollars to stabilize the currency. This intervention, along with the aftermath of the Middle East conflict, has led to a consistent decline in reserves over recent weeks.
Nevertheless, the recent increase suggests that the pressure may be easing, although reserves remain below the February peak. Changes in foreign exchange reserves indicate India’s efforts to maintain currency stability while managing global shocks.
Earlier, during the week ending April 10, India’s foreign exchange reserves had increased by $3.825 billion. In the week ending April 3, reserves rose by $9.063 billion to reach $697.121 billion, signaling a continuous improvement.
Foreign exchange reserves are crucial for any country’s economic stability. They help the central bank manage currency fluctuations and facilitate smooth foreign trade. A strong reserve allows the RBI to intervene in the market to support the rupee when necessary, reflecting a steady flow of foreign currency into the economy.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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