FX Reserves
India's Foreign Exchange reserves rise to all-time high of $740.80 billion as of Aug 28
This story was originally published at 20:16 IST on 4 September 2026
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--RBI: India Aug 28 FX reserves at record high of $740.80 bln
--RBI: Gold reserves as on Aug 28 $116.41 bln, up $2.19 bln on week
--RBI: India Aug 28 FX assets $600.67 bln, up $9.34 bln on week
--RBI: India Aug 28 FX reserves $740.80 bln, up $11.48 bln on week
--RBI: India Aug 28 FX reserves $740.80 bln
NEW DELHI – India's foreign exchange reserves touched an all-time high of $740.80 billion as of Aug. 28 on the back of a sharp rise in capital inflows under the Reserve Bank of India's swap schemes, data released by the central bank Friday showed. The reserves rose by $11.48 billion from a week ago. The foreign exchange reserves have risen for the ninth consecutive week. The previous high for foreign exchange reserves was $729.33 billion in the week ended Aug. 21.
Foreign currency assets rose $9.34 billion from a week ago to $600.67 billion as of Aug. 28, while the value of the central bank's gold holdings increased by $2.19 billion on week to $116.41 billion. The central bank's swap schemes announced in June helped shore up foreign reserves. The schemes attracted total foreign exchange inflows of $136.38 billion as of Aug. 31, the central bank said on Wednesday.
The RBI likely sold dollars in the foreign exchange market in the week ended Aug. 28 to support the rupee against the dollar. The rupee rose 0.3% against the dollar during the week. 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 94.48
Reported by Sagar Sen
Edited by Saji George Titus
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