India's Forex Reserves Surge by Over $6 Billion

India's foreign exchange reserves have seen a substantial increase of $6.295 billion, bringing the total to $696.988 billion as of May 8. This rise follows a previous decline and highlights the resilience of India's financial position amidst global economic challenges. The Reserve Bank of India reported significant growth in foreign currency assets and gold reserves, indicating a positive trend in the country's economic stability. Discover more about the factors influencing these changes and their implications for the Indian economy.

By Narendra Chaudhary May 15, 2026, 23:15 IST

Significant Increase in Forex Reserves

According to the Reserve Bank of India, the nation's foreign exchange reserves saw a notable rise of USD 6.295 billion, reaching a total of USD 696.988 billion for the week ending May 8. This increase comes after a decline of USD 7.794 billion in the previous week, which had brought the reserves down to USD 690.693 billion.

The forex reserves had previously peaked at an impressive USD 728.494 billion during the week ending February 27, prior to the escalation of the crisis in West Asia. This situation had exerted pressure on the Indian rupee, prompting the Reserve Bank to step in and sell dollars in the forex market.

For the week ending May 8, the foreign currency assets, which form a significant part of the reserves, rose by USD 562 million to USD 552.387 billion. These assets reflect the fluctuations in value of non-US currencies, including the euro, pound, and yen, held within the reserves.

Additionally, the value of gold reserves increased by USD 5.637 billion, bringing the total to USD 120.853 billion. The Special Drawing Rights (SDRs) also saw a rise of USD 84 million, reaching USD 18.873 billion. Furthermore, India's reserve position with the International Monetary Fund (IMF) improved by USD 12 million, totaling USD 4.875 billion by the end of the reporting week.