Indias Forex Reserves Reach Record High of $785.71 Billion, Up by $44.90 Billion: RBI

Mumbai, September 11 (Daily Kiran) : India’s foreign exchange reserves have soared to a historic high of $785.71 billion, reflecting an increase of $44.90 billion in the week ending September 4, according to data released by the Reserve Bank of India (RBI) on Friday. This marks the highest level of forex reserves in the country’s history. The previous week, ending August 28, also saw a rise of $11.47 billion, bringing the reserves to $740.80 billion.

The remarkable surge in reserves is primarily attributed to a significant increase in foreign currency assets (FCA), which rose by $47.498 billion to reach $648.17 billion during the review period. Compared to the end of March, the FCA has increased by $95.886 billion, and it is $63.692 billion higher than the same period last year.

However, there was a slight decline in the country’s gold reserves, which decreased by $2.594 billion to $113.816 billion. Despite this drop, India’s gold reserves are still $23.517 billion higher than a year ago, although they are down by $1.580 billion from the end of March 2026.

According to the RBI, India’s Special Drawing Rights (SDR) holdings with the International Monetary Fund (IMF) saw a minor decline of $4 million, bringing the total to $18.806 billion. Nevertheless, these holdings are still $184 million higher than at the end of March and $64 million more than the previous year.

On the other hand, India’s reserve position with the IMF increased slightly by $2 million, now totaling $4.916 billion. This figure is $108 million higher than at the end of March 2026 and $168 million more than a year ago.

Overall, since the end of March 2026, India’s forex reserves have increased by $94.599 billion. In comparison to the same period last year, this represents a growth of $87.438 billion. This surge is seen as a strengthening factor for India’s external financial position.

The record level of forex reserves provides India with a robust shield against global economic uncertainties and external shocks. It aids in maintaining the stability of the rupee, enhances the capacity to finance imports, and supports the economy during volatility in global financial markets.

Notably, the forex reserves have increased by over $56 billion in just two consecutive weeks, further solidifying India’s position as one of the countries with the strongest foreign exchange reserves globally.