India’s foreign exchange reserves recorded a strong rebound in the week ended April 3, 2026, rising by $9.063 billion to reach $697.121 billion, according to data released by the Reserve Bank of India. This surge comes after a significant decline of $10.288 billion in the previous week, when reserves had dropped to $688.058 billion.
The recovery follows recent volatility in global markets, largely triggered by ongoing tensions in West Asia. Earlier, India’s forex reserves had touched a record high of $728.494 billion in the week ended February 27, 2026, before facing downward pressure.
The Indian rupee has remained under strain amid these global developments, prompting the central bank to step in through dollar sales and policy measures aimed at stabilizing the currency.
Foreign Currency Assets Rise Moderately
Foreign Currency Assets (FCA), the largest component of the reserves, increased by $1.784 billion to $552.856 billion during the reporting week. These assets are influenced by fluctuations in major global currencies such as the euro, pound, and yen.
Gold Reserves Lead the Surge
Gold reserves emerged as the key driver of the overall increase, jumping by $7.221 billion to $120.742 billion. This sharp rise accounted for the bulk of the total growth in forex reserves.
SDRs and IMF Position
Special Drawing Rights (SDRs) rose by $58 million to $18.707 billion during the week. Meanwhile, India’s reserve position with the International Monetary Fund remained unchanged at $4.816 billion.
Overall, the latest data reflects a recovery in India’s external buffer, even as global uncertainties continue to impact currency markets.