India’s forex reserves jump by a record $44.903 billion
India's foreign exchange reserves reached a record high of $785.706 billion for the week ending September 4, 2026, following a $44.903 billion increase. This growth is attributed to RBI's concessional forex swap initiatives introduced in June to stabilize the currency.
Why it matters
Record-high forex reserves provide India with a stronger buffer against global economic volatility and currency depreciation.
“India's forex reserves jumped by a record $44.903 billion to a new lifetime high of $785.706 billion during the week ended September 4, 2026,” the Reserve Bank of India (RBI) said on Friday (September 11, 2026).
In the previous reporting week, the overall reserves increased $11.475 billion to a new all-time high of $740.803 billion.
The kitty had been declining since the start of the conflict in West Asia earlier this year, as the Rupee came under pressure and the RBI had to intervene in the forex market through dollar sales.
However, the reserves started increasing since the RBI announced concessional forex swap initiatives in June this year amid a sharp depreciation in the local currency. The move has yielded more than $136 billion in new flows.
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