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India's foreign exchange reserves increased by USD 2.49 billion to USD 719.55 billion in the week ended November 6, 2026, driven primarily by a rise in gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday.
The latest data, published in the RBI's Weekly Statistical Supplement, showed that the country's forex reserves stood at USD 717.06 billion in the preceding week. Foreign currency assets (FCA), the largest component of India's foreign exchange reserves, increased marginally by USD 232 million during the week to USD 591.35 billion. Gold reserves registered a sharp increase of USD 2.21 billion to USD 104.80 billion, accounting for the bulk of the overall rise in foreign exchange reserves during the reporting week. Meanwhile, Special Drawing Rights (SDRs) increased by USD 52 million to USD 18.61 billion, while India's reserve position with the International Monetary Fund (IMF) rose by USD 1 million to USD 4.79 billion. The data further showed that India's total foreign exchange reserves have increased by USD 28.44 billion since the end of March 2026. During the same period, foreign currency assets increased by USD 39.07 billion, while gold reserves declined by USD 10.60 billion. On a year-on-year basis, India's foreign exchange reserves recorded an increase of USD 32.51 billion, according to the central bank's data. Foreign currency assets increased by USD 29.21 billion compared with the corresponding period last year, while gold reserves rose by USD 3.27 billion. The RBI data also showed that SDR holdings increased by USD 16 million year-on-year, while the reserve position with the IMF rose by USD 19 million. In rupee terms, however, India's foreign exchange reserves declined by Rs 49,742 crore during the week to Rs 67.59 lakh crore, despite the increase in their US dollar value. Foreign currency assets fell by Rs 58,075 crore in rupee terms, while gold reserves increased by Rs 10,257 crore during the reporting period. The latest figures indicate that the increase in gold reserves was the principal contributor to the weekly rise in India's foreign exchange reserves, while foreign currency assets registered a relatively modest increase. (ANI)
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