India's foreign exchange reserves rise to $707 billion, up $14.1 billion
India's foreign exchange reserves increased by $14.136 billion to $707.002 billion in the week ending August 7, according to the Reserve Bank of India.
Data released by the Reserve Bank of India show that India's foreign exchange reserves climbed by $14.136 billion, bringing the total to $707.002 billion for the week ended August 7. This follows a $10.512 billion increase in the previous week and a record high of $728.494 billion in the week of February 27, before a series of declines linked to the Middle East conflict. The rupee's depreciation prompted the RBI to sell dollars in the foreign-exchange market.
The largest component, foreign currency assets, rose by $9.946 billion to $574.625 billion, reflecting both inflows and currency movements. Gold holdings grew by $3.995 billion to $108.738 billion, while special drawing rights and the IMF reserve position rose modestly. The increase follows July measures, such as the FCNR(B) deposit scheme, which have attracted roughly $40 billion in foreign exchange so far.
Why it matters
Higher reserves strengthen India's ability to manage currency volatility and support economic stability.
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