India Forex Reserves Rise To $703.3 Billion
India’s foreign exchange reserves rose by $2.362 billion to $703.308 billion for the week ended April 17, according to the latest data released by the Reserve Bank of India.
India Forex Reserves Cross $703 Billion
The latest increase comes after the forex kitty had risen by $3.825 billion in the previous reporting week to $700.946 billion. This marks another week of recovery after reserves had declined from their February peak amid global uncertainty and pressure on the rupee.
India’s forex reserves had touched an all-time high of $728.494 billion in the week ended February 27, 2026. The reserves later fell as geopolitical tensions in West Asia weighed on currency markets and prompted the RBI to intervene through dollar sales.
Foreign Currency Assets Lead Weekly Rise
Foreign currency assets, the biggest component of India’s forex reserves, increased by $1.481 billion to $557.463 billion during the week ended April 17.
Foreign currency assets include the impact of movements in major non-dollar currencies such as the euro, pound and yen. Changes in exchange rates can therefore affect the dollar value of India’s reserves even without major changes in holdings.
Gold Holdings Climb To $122.1 Billion
India’s gold reserves also increased during the week. The value of gold holdings rose by $790 million to $122.133 billion, continuing the strong contribution of gold to the overall reserve position.
Special Drawing Rights increased by $78 million to $18.84 billion, while India’s reserve position with the IMF rose by $14 million to $4.87 billion.
The RBI monitors the foreign exchange market and intervenes when needed to maintain orderly conditions, without targeting a fixed exchange rate level.
