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Informist, Friday, Feb. 6, 2026

 

--RBI Malhotra: FX reserves as of Jan 30 at $723.8 bln 

--RBI Malhotra: Confident will meet external financing requirement comfortably 

--RBI Malhotra: India remains attractive FDI destination 

--RBI Malhotra:India remains attractive FDI destination for greenfield project 

 

MUMBAI – India's foreign exchange reserves rose to a record high of $723.8 billion in the week ended Jan. 30, Reserve Bank of India Governor Sanjay Malhotra said Friday. Reserves rose $14.4 billion on week, the biggest weekly jump since March. 

 

Reserves have risen for four consecutive weeks on the back of an increase in RBI's gold holdings and dollar-rupee swaps. Reserves could end this week even higher, with the RBI conducting a $10-billion buy-sell swap on Wednesday.

 

Malhotra said the reserves provide merchandise import cover of more than 11 months. "Overall, India's external sector remains resilient. We are confident of meeting our external financing requirements comfortably," the governor said while announcing the outcome of the three-day Monetary Policy Committee meeting Friday. The rate-setting panel left the repo rate unchanged at 5.25% as was widely expected. 

 

On the external financing side, India remains an attractive foreign direct investment destination for greenfield projects, Malhotra said. Gross foreign direct investment to India increased at a robust pace during Apr-Nov. Net FDI also increased as repatriations declined, despite a rise in outward FDI.

 

Robust services exports and healthy inward remittance receipts would keep India's current account deficit for the current year moderate and sustainable, Malhotra said. "Moreover, India's proactive efforts in pursuing bilateral and regional trade agreements with major trading partners are expected to boost international trade and investment, diversify trading partners and integrate India into global value chains."

 

The services sector should also continue to be resilient, with strengthening domestic demand. Early results from information technology firms suggest an improvement in business activity, the governor said.  End

 

US$1 = INR 90.40

 

Reported by Shubham Rana

Edited by Avishek Dutta

 

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