Forex reserves surge by $7.26 billion, reach $674.19 billion: RBI
Synopsis
India's foreign exchange reserves increased by USD 7.26 billion to USD 674.19 billion during the week ended July 3. The rise was driven by an increase in foreign currency assets and gold reserves, as per data from the Reserve Bank of India.
India's foreign exchange reserves increased by USD 7.26 billion during the week ended July 3, driven by a rise in foreign currency assets and gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday.
The data highlighted that the country's total forex reserves stood at USD 674.19 billion (Rs 64,20,602 crore) as on July 3, registering a weekly increase of USD 7.26 billion (Rs 1,26,095 crore).
Breakdown of Weekly Gains
The largest component of the reserves, Foreign Currency Assets (FCA), rose by USD 4.51 billion (Rs 89,198 crore) during the week to USD 545.58 billion (Rs 51,95,747 crore).
Gold reserves also witnessed a significant increase, rising by USD 2.67 billion (Rs 34,180 crore) to USD 105.21 billion (Rs 10,01,911 crore), contributing substantially to the overall increase in the country's foreign exchange reserves.
The RBI data further showed that Special Drawing Rights (SDRs) increased by USD 65 million (Rs 2,209 crore) during the reporting week to USD 18.62 billion (Rs 1,77,354 crore).
India's Reserve Position in the International Monetary Fund (IMF) also recorded a marginal increase of USD 15 million (Rs 508 crore) to USD 4.79 billion (Rs 45,589 crore).
Overall, all major components of the country's foreign exchange reserves recorded gains during the week ended July 3.
Long-Term Perspective
However, compared with the end of March 2026, the RBI data showed that total foreign exchange reserves were lower by USD 16.92 billion (Rs 1,33,259 crore). Foreign Currency Assets declined by USD 6.71 billion, while gold reserves were down by USD 10.19 billion over the same period.
On a year-on-year basis, total reserves were lower by USD 25.54 billion, although gold holdings increased by USD 20.36 billion during the period. (ANI)
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