India’s foreign exchange reserves rose by USD 4.698 billion to USD 702.966 billion in the week ending September 12, according to the Reserve Bank of India’s latest Weekly Statistical Supplement. This marks the third consecutive weekly increase, with the reserves crossing the much-awaited USD 700 billion mark.
The RBI data showed that foreign currency assets (FCA), the largest component of forex reserves, climbed to USD 587.014 billion, up by USD 2.537 billion. Gold reserves also surged, rising by USD 2.12 billion to reach USD 92.419 billion.
Following the latest monetary policy review, RBI Governor Sanjay Malhotra said India’s foreign exchange holdings are now sufficient to cover 11 months of imports.
India added around USD 58 billion to its forex reserves in 2023, reversing a cumulative decline of USD 71 billion in 2022. In 2024, reserves grew by over USD 20 billion, while in 2025 so far, they have risen by about USD 53 billion.
Forex reserves are assets held by a country’s central bank, primarily in major global currencies such as the US dollar, with smaller portions in the euro, Japanese yen, and pound sterling. The RBI manages these reserves actively, buying dollars when the rupee strengthens and selling them during periods of weakness to stabilise the currency.
-ANI