India's forex reserves reach record $729.33 billion after RBI measures
Business
India's foreign exchange reserves have jumped to an all-time high of $729.33 billion as of August 21, 2026, up by $12.42 billion in just a week.
This new peak beats the previous February record and comes after the Reserve Bank of India (RBI) rolled out fresh moves to attract more dollars into the country.
RBI overseas deposit scheme nets $72.8B
To boost inflows and avoid another year of payment deficits, the RBI launched a special deposit scheme for overseas citizens, pulling in a massive $72.8 billion so far.
While these efforts cost about $5.7 billion a year, they give India more backup to support the rupee, especially handy as high oil prices keep pressure on India's currency.