Gold holdings strengthen further as RBI boosts reserves amid global uncertainty
Currency Market India
India’s foreign exchange reserves rise to $703.3 billion; gold reserves reach $122.1 billion
According to the latest data from the Reserve Bank of India, India increased its foreign exchange (forex) reserves by $2.362 billion, bringing the total to $703.308 billion for the week ending April 17. Earlier, in the previous reporting week, the reserves had already risen by $3.825 billion to $700.946 billion.
Meanwhile, gold reserves also moved upward. They grew by $790 million and reached $122.133 billion. This steady rise reflects how India continues to strengthen its gold holdings amid global economic uncertainty.
At the same time, foreign currency assets (FCA)—the largest component of the reserves—expanded by $1.481 billion to $557.463 billion. Notably, fluctuations in non-US currencies such as the euro, pound sterling, and yen influenced this increase.
In addition, India’s Special Drawing Rights (SDRs) with the International Monetary Fund increased by $78 million to $18.841 billion. Similarly, the country’s reserve position with the IMF rose by $14 million to $4.87 billion.
Earlier, in the week ending February 27, 2026, India had achieved a record high of $728.494 billion in forex reserves. However, rising geopolitical tensions in West Asia later reduced the reserves and put pressure on the Indian rupee. To counter this, the Reserve Bank of India intervened in the currency market and sold dollars to stabilize the situation.
Overall, the consistent growth in forex reserves signals strength in India’s economy. Therefore, it is expected to enhance financial stability and support the currency market despite ongoing global uncertainties.]
Currency Market India
