Forex reserves hit new record of $740.80 bn

By Sohail Khan 4 September 2026, 5:09 pm

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Business News›News›Economy›Indicators›India's forex reserves rise by $11.47 billion to hit record high of $740.80 billion as of August 28

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India's forex reserves rise by $11.47 billion to hit record high of $740.80 billion as of August 28
Synopsis

India's foreign exchange reserves saw a substantial increase of $11.475 billion. This brought the total reserves to $740.8 billion by August 28. The Reserve Bank of India monitors foreign exchange market developments closely. It intervenes when necessary to ensure orderly market conditions. The central bank refrains from targeting any specific exchange rate.

India's foreign exchange reserves increased by $11.47 billion to $740.80 billion in the week ended August 28, according to data released by the Reserve Bank of India (RBI) on Friday.

The latest record comes after India's forex reserves surged by $12.422 billion to $729.328 billion in the previous week ended August 21.

In addition, foreign currency assets (FCA), the largest component of reserves, increased by $9.337 billion during the week to $600.67 billion.

While FCA holdings were up $48.387 billion from end-March and $16.73 billion higher than a year ago.

Moreover, gold reserves rose by $2.191 billion on the week to $116.409 billion. And, gold holdings have increased by $1.014 billion since the end of March and were higher by $29.641 billion from a year earlier.

India's Special Drawing Rights (SDRs) with the International Monetary Fund stood at $18.81 billion, down $43 million from the previous week. SDR holdings were up $188 million from end-March.

The country's reserve position with the IMF decreased by $11 million during the week to $4.914 billion. It was up $106 million from end-March.

The RBI continues to keep a close watch on developments in the foreign exchange market and steps in whenever required to maintain orderly market conditions, while refraining from targeting any specific exchange rate.

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