India's FX reserves fall to over 14-month low of $671.63 billion as of Jun 12
This story was originally published at 18:41 IST on 19 June 2026
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--RBI: India Jun 12 FX reserves $671.63 bln
--RBI: India Jun 12 FX reserves $671.63 bln, down $9.99 bln on week
--RBI: India Jun 12 FX assets $544.29 bln, up $846 mln on week
--RBI: Gold reserves as on Jun 12 $103.82 bln, down $10.75 bln on week
NEW DELHI – India's foreign exchange reserves fell by $9.99 billion on week to $671.63 billion as of Jun. 12, largely due to a slump in the value of its gold holdings, data released by the Reserve Bank of India Friday showed. The weekly fall was the worst in 11 weeks and foreign exchange reserves declined to the lowest level since Mar. 28, 2025.
The value of the central bank's gold holdings fell $10.75 billion to $103.82 billion as of Jun. 12. However, foreign currency assets rose $846 million on week to $544.29 billion.
The Indian currency inched down against the dollar in the week ended Jun. 12, though the fall was limited by dollar sales from the RBI in the spot market, according to foreign exchange market dealers. The domestic currency fell nearly 0.2% against the dollar in the week ended Jun. 12, primarily because of uncertainty relating to the signing of a peace deal between the US and Iran.
The rupee has been under extreme pressure because of concern about a wider current account deficit following a surge in crude oil prices triggered by the war in West Asia. The Indian currency has depreciated 4.95% against the dollar so far in 2026. With the US and Iran signing a memorandum of understanding this week to end the war, crude oil prices have cooled. Moreover, the RBI's foreign exchange reserves are expected to climb due to a wide array of measures announced by the central bank on Jun. 5 to increase capital inflows.
Calculated in dollar terms, the RBI's foreign exchange reserves also reflect the impact of the 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 94.32
Reported by Shweta
Edited by Rajeev Pai
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