India’s forex reserves rise $3.8 billion to $700.9 billion, led by foreign currency assets and gold gains

India’s foreign exchange reserves recorded a healthy weekly increase of $3.8 billion to reach $700.9 billion for the week ended April 10, 2026, reflecting a broad-based rise across key components.

The uptick was primarily driven by foreign currency assets (FCA), which rose by $3.1 billion during the week, indicating strengthening core reserves.

Gold reserves also contributed to the increase, climbing by $601 million, suggesting a steady buildup in safe-haven assets amid global uncertainties.

Meanwhile, the reserve position in the International Monetary Fund (IMF) improved by $41 million, providing additional support to the overall reserves position.

However, Special Drawing Rights (SDRs) registered a marginal 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 the bulk of the rise at ₹7,744 crore.

Gold reserves rose by ₹935 crore, while the IMF reserve position added ₹110 crore. SDRs, however, declined by ₹199 crore.

The overall weekly movement highlights continued resilience in India’s external sector, with gains in major reserve components outweighing minor declines.

India’s forex reserves had previously touched an all-time high of $728.49 billion in the week ended February 27, before coming under pressure due to the ongoing West Asia conflict.

The rupee has faced volatility since then, prompting the RBI to intervene in the currency markets through dollar sales and other policy measures to manage the decline.

Earlier today the rupee strengthened nearly 0.5% even as most emerging market (EM) currencies remained under pressure against the dollar. On a monthly basis, the rupee has gained around 3%, in sharp contrast to several EM peers that have declined by 2–3% over the same period.

Also Read: India forex reserves jump $9.06 billion to $697.12 billion: RBI

A key factor supporting the rupee is recent intervention by the Reserve Bank of India

(RBI) aimed at managing dollar demand. The central bank has nudged major oil companies to route dollar purchases through a limited set of PSU banks using credit lines, instead of approaching multiple banks.

This helps avoid an exaggerated perception of dollar demand, which can otherwise push the currency lower.