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India's foreign exchange reserves rose by USD 964 million to USD 675.157 billion for the week ended July 10, mainly supported by an increase in foreign currency assets, according to the Reserve Bank of India's (RBI) Weekly Statistical Supplement released on Friday.
The RBI data showed that foreign currency assets (FCA), the largest component of the forex reserves, increased by USD 930 million during the week to USD 546.508 billion. In rupee terms, foreign currency assets rose by Rs 14,078 crore. Gold reserves also registered an increase during the reporting week. They rose by USD 24 million to USD 105.230 billion, while in rupee terms, they increased by Rs 1,235 crore. The country's Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased by USD 3 million to USD 18.626 billion during the week. In rupee terms, SDR holdings rose by Rs 209 crore. India's reserve position in the IMF also improved during the week. It increased by USD 7 million to USD 4.793 billion, while in rupee terms it rose by Rs 97 crore. Despite the weekly increase, the RBI data showed that the country's forex reserves remain lower compared with the end of March 2026. Total reserves have declined by USD 15.951 billion since the end of March. Foreign currency assets are down by USD 5.775 billion, while gold reserves have fallen by USD 10.166 billion over the same period. However, SDR holdings have increased by USD 5 million, while the reserve position in the IMF has declined by USD 15 million. On a year-on-year basis, India's total foreign exchange reserves were USD 21.515 billion lower than the level recorded in the corresponding week last year. During the period, foreign currency assets declined by USD 42.302 billion, while gold reserves increased by USD 20.881 billion. SDR holdings were lower by USD 176 million, whereas the reserve position in the IMF increased by USD 82 million, according to the RBI data. (ANI)
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