India's forex reserves touch 12-week high of $692.9 bln as of Jul 31 - RBI
This story was originally published at 21:31 IST on 5 August 2026
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MUMBAI – India's foreign exchange reserves rose to a 12-week high of $692.9 billion as of Jul. 31, the detailed statement by Reserve Bank of India Governor Sanjay Malhotra after the Monetary Policy Committee's third bi-monthly meeting showed. The jump in foreign exchange reserves comes as the RBI's measures to boost foreign capital inflows attracted $40.82 billion from Jun. 8 till Jul. 31.
"India's foreign exchange reserves continue to be adequate in terms of the standard metrics of reserve adequacy with import cover of over 10 months and external debt cover of 90.8%," the governor said. "As for the exchange rate, we will continue with our policy of it being determined by market forces, while curbing excessive volatility, checking speculative behaviour and preventing disorderly movements to ensure that it is not out of sync with fundamentals or disruptive of economic activity." End
US$1 = INR 95.1175
Reported by Nandini Sinha
Edited by Akul Nishant Akhoury
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