India's forex reserves hit a record $728.5 billion

ET BureauLast Updated: Mar 07, 2026, 07:54:00 AM IST

Synopsis

India's foreign exchange reserves surged to a record $728.5 billion in the week ending February 27, boosted significantly by a $4 billion increase in gold reserves. Foreign currency assets and SDRs also contributed to the rise, despite the rupee facing pressure from forward contract maturities.

Mumbai: India's foreign exchange reserves rose $4.8 billion in the week ended February 27, to reach a record high of $728.5 billion, latest data shows. The increase in reserves last week was majorly driven by gold reserves, which increased $4 billion to $131 billion. Gold prices increased 1.3% in the week ended February 27 to $5174 per ounce. In the same week, the rupee was also under pressure due to multiple maturities of non-deliverable forward contracts, where the currency ended at 90.98/$1. Along with gold, foreign currency assets increased from $561 million to $573 billion. SDRs increased from $26 million to $188 billion.

...moreless

...moreless