India's foreign exchange reserves drop $10.28 billion to $688 billion
India's foreign exchange reserves just dropped by $10.28 billion, landing at $688 billion for the week ending March 27, 2026.
This comes after another big fall the week before, and the RBI has been intervening in the forex market as the rupee has come under pressure since the West Asia conflict began.
In late February (week ended Feb 27, 2026), India had hit a record high with its reserves...
Reserve Bank of India sells dollars
Most of this decline came from a sharp decrease in foreign currency assets (down $6.62 billion) and gold reserves (down $3.67 billion).
The Reserve Bank of India has been selling dollars to help steady the rupee, but it's still tough going with so much uncertainty worldwide.
A tiny bright spot: India's Special Drawing Rights ticked up by $17 million during all this market drama.