India's FX reserves fall to 13-month low of $681.38 bln as of May 22 - RBI
This story was originally published at 18:45 IST on 29 May 2026
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--RBI: India May 22 FX reserves $681.38 bln
--RBI: India May 22 FX reserves $681.38 bln, down $7.51 bln on week
--RBI: India May 22 FX assets $543.03 bln, down $2.87 bln on week
MUMBAI – India's foreign exchange reserves fell to an over 13-month low of $681.38 billion as of May 22, as the Reserve Bank of India looked to defend the depreciating rupee, data released by the RBI showed Friday. Foreign exchange reserves fell $7.51 billion on week.
The Indian currency rose 0.3% against the dollar in the week ended May 22, recovering from the record low of 96.9600 a dollar hit during the week, primarily due to the central bank's intervention. The rupee has been under extreme pressure because of concerns about a higher current account deficit following a surge in crude oil prices after the war in West Asia. The Indian currency has depreciated 5.7% against the dollar so far in 2026.
Foreign currency assets fell $2.87 billion on week to $543.03 billion as of May 22. The value of the central bank's gold holdings also fell $4.53 billion on week to $114.79 billion as of May 22.
Calculated in dollar terms, the RBI's foreign exchange reserves also reflect the impact of appreciation or depreciation of currencies other than the dollar, such as the euro, the pound sterling, and the yen held by the central bank. End
US$1 = INR 95.00
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Durgesh Nandan
Edited by Akul Nishant Akhoury
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