India's foreign exchange reserves surged by USD 7.26 billion during the week ended July 3, reaching a total of USD 674.19 billion (Rs 64,20,602 crore), according to data released by the Reserve Bank of India (RBI) on Friday. The increase was primarily driven by a rise in foreign currency assets and gold reserves.
Components of the Reserves
The largest component, Foreign Currency Assets (FCA), rose by USD 4.51 billion (Rs 89,198 crore) to USD 545.58 billion (Rs 51,95,747 crore) during the week. Gold reserves also saw a significant increase, climbing by USD 2.67 billion (Rs 34,180 crore) to USD 105.21 billion (Rs 10,01,911 crore).
In addition, Special Drawing Rights (SDRs) increased by USD 65 million (Rs 2,209 crore) to USD 18.62 billion (Rs 1,77,354 crore), while India's Reserve Position in the International Monetary Fund (IMF) recorded a marginal gain of USD 15 million (Rs 508 crore) to USD 4.79 billion (Rs 45,589 crore). All major components of the forex reserves recorded gains during the reporting week.
Comparison with Earlier Periods
Compared to the end of March 2026, the total foreign exchange reserves were lower by USD 16.92 billion (Rs 1,33,259 crore). Foreign Currency Assets declined by USD 6.71 billion, while gold reserves were down by USD 10.19 billion over the same period. On a year-on-year basis, total reserves were lower by USD 25.54 billion, although gold holdings increased by USD 20.36 billion during the period.
