INDIA'S FOREX RESERVES JUMP $964 MILLION TO $675.16 BILLION; GOLD HOLDING INCREASES $24 MILLION

India’s foreign exchange (forex) reserves increased $964 million to $675.16 billion in the week ended July 10, driven mainly by a rise in foreign currency assets, according to the Reserve Bank of India’s (RBI) weekly data released on July 17.

Foreign currency assets lead the increase

Foreign currency assets (FCA), the biggest component of India’s forex reserves, rose by $930 million to $546.51 billion during the week. In rupee terms, FCA increased by Rs 14,078 crore.

Foreign currency assets include the value of foreign currencies held by the RBI and are affected by changes in the value of major global currencies such as the euro, pound and yen against the US dollar.

Gold reserves edge higher

India’s gold reserves also increased during the week. They rose by $24 million to $105.23 billion, while their value in rupee terms went up by Rs 1,235 crore.

The country’s holdings of Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased by $3 million to $18.63 billion. In rupee terms, SDR holdings rose by Rs 209 crore.

Meanwhile, India’s reserve position with the IMF increased by $7 million to $4.79 billion, or Rs 97 crore in rupee terms.

Reserves remain below March-end levels

Despite the weekly increase, India’s forex reserves remain lower than the levels recorded at the end of March 2026.

Since the end of March, total forex reserves have declined by $15.95 billion. During the period, foreign currency assets have fallen by $5.78 billion, while gold reserves have declined by $10.17 billion.

However, SDR holdings have increased by $5 million, while India’s reserve position with the IMF has slipped by $15 million over the same period.

Lower than a year ago

Compared with the same week last year, India’s forex reserves were $21.52 billion lower. On a year-on-year basis, foreign currency assets declined by $42.30 billion, while gold reserves increased by $20.88 billion. SDR holdings were lower by $176 million, whereas India’s reserve position with the IMF rose by $82 million, according to RBI data.

2026-07-18T03:09:00Z