Forex Reserves Surge $9 Billion Amidst Volatility

India's foreign exchange reserves saw a notable recovery, climbing by $9.06 billion to $697.12 billion for the week concluding April 3, 2026. This rise effectively countered the previous week's decrease. The growth was substantially bolstered by a significant increase in gold reserves, which surged by $7.22 billion to $120.74 billion. Foreign currency assets, reflecting non-US currency fluctuations, also grew by $1.78 billion. Special Drawing Rights saw a modest increase, while the IMF reserve position remained steady. These reserves had previously reached an all-time high before facing pressure from regional conflicts. The central bank has been active in managing currency volatility.