India's foreign exchange reserves $682.3 billion by May 29 2026
Business
India's foreign exchange reserves hit $682.3 billion by May 29, 2026, according to Reserve Bank of India Governor Sanjay Malhotra.
While that number is a bit lower than in late April and early May, when reserves dropped by nearly $17.11 billion over a few weeks, it still shows the country has a solid financial cushion.
RBI used reserves to steady rupee
The recent dip mainly happened because the Reserve Bank of India stepped up to manage rupee swings as global markets got shaky.
By using some of these reserves and tweaking liquidity, the central bank aimed to keep things stable for India's economy, even if it meant letting reserves fall slightly from their peak.