RBI Policy
FX reserves tad up to $682.3 bln as of May 29 from $681.38 May 22
This story was originally published at 11:36 IST on 5 June 2026
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--RBI Malhotra: FX reserves at $682.3 bln as on May 29
--RBI Malhotra: FX reserves adequate, have import cover of 11 mos
--RBI Malhotra: FX reserves adequate, cover 89% of external debt
NEW DELHI – India's foreign exchange reserves were $682.3 billion as of May 29, the Reserve Bank of India Governor Sanjay Malhotra said Friday. This was marginally up from $681.38 billion as of May 22.
The latest reserves are adequate to cover 11 months of imports and 89.1% of external debt, Malhotra said. While India's external sector, "successfully navigated the challenges of elevated tariff and trade-related uncertainties in 2025-26 (Apr-Mar) amidst a turbulent global economic environment," the cental bank governor said. "The surge in energy prices and persistent trade policy uncertainties continue to pose upside risks to India's current account deficit in 2026-27. Services trade surplus and inward remittances are expected to provide some comfort."
On the external financing front, strong gross foreign direct investment and higher net foreign direct investment in FY26 highlight continued global investor interest in India, Malhotra said. FDI inflows also remained encouraging in April. FPI flows into India, however, saw net outflows of $13.7 billion so far in FY27, mainly from the equity segment. End
US$1 = INR 95.31
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Vaishali Tyagi
Edited by Deepshikha Bhardwaj
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