India's forex reserves jump by $3.8B to hit $700.9B
What's the story
India's foreign exchange (forex) reserves have seen a significant weekly increase of $3.8 billion, taking the total to $700.9 billion for the week ending April 10, 2026. The rise is mainly due to an increase in foreign currency assets (FCA), which went up by $3.1 billion during the week. This points to a strengthening of core reserves and overall financial stability for India in global markets.
Asset contributions
Gold reserves also contributed to the increase
Along with FCA, India's gold reserves also contributed to the increase in forex reserves. The country's gold holdings grew by $601 million during the week, showing a steady buildup of safe-haven assets amid global uncertainties. Further, the reserve position in the International Monetary Fund (IMF) improved by $41 million, providing additional support to India's overall reserves position.
Currency impact
Total reserves increased by ₹8,591cr
However, the Special Drawing Rights (SDRs) saw a bit decline of $56 million, slightly offsetting the overall gains. In rupee terms, total reserves increased by ₹8,591 crore during the week, with FCA accounting for most of the rise at ₹7,744 crore. Gold reserves also rose by ₹935 crore, while IMF reserve position added another ₹110 crore to India's forex reserves.
Market stability
Reserves had peaked at $728.49B in late February
India's forex reserves had peaked at a record high of $728.49 billion in the week ending February 27. However, they came under pressure due to the ongoing West Asia conflict. The rupee has been volatile since then, prompting the Reserve Bank of India (RBI) to intervene in currency markets via dollar sales and policy measures to manage its decline.