India’s forex reserves jump by a record $44.903 billion

“India's forex reserves jumped by a record $44.903 billion to a new lifetime high of $785.706 billion during the week ended September 4, 2026,” the Reserve Bank of India (RBI) said on Friday (September 11, 2026).

In the previous reporting week, the overall reserves increased $11.475 billion to a new all-time high of $740.803 billion.

The kitty had been declining since the start of the conflict in West Asia earlier this year, as the Rupee came under pressure and the RBI had to intervene in the forex market through dollar sales.

However, the reserves started increasing since the RBI announced concessional forex swap initiatives in June this year amid a sharp depreciation in the local currency. The move has yielded more than $136 billion in new flows.

For the week ended September 4, foreign currency assets, a major component of the reserves, increased $47.498 billion to $648.168 billion, the Central bank's data showed.

Expressed in dollar terms, foreign currency assets include the effects of appreciation or depreciation of non-U.S. units, such as the euro, pound, and yen, held in the foreign exchange reserves.

“Value of gold reserves decreased $2.594 billion to $113.816 billion during the week,” the RBI said, adding that the special drawing rights (SDRs) were down by $4 million at $18.806 billion. India's reserve position with the International Monetary Fund was up $2 million to $4.916 billion at the end of the reporting week, according to the Central bank's data.