The increase came after reserves had already risen sharply in the preceding week, when they crossed their previous record of $728.5 billion set in February.
Foreign currency assets drive the rise
Foreign currency assets (FCAs), the largest component of the reserves, increased by $9.34 billion during the week to $600.67 billion.
FCAs include assets held in currencies such as the euro, pound and yen, although the RBI reports their value in US dollars. Changes can therefore reflect both actual flows and movements in exchange rates.
Gold reserves provided another boost, rising $2.19 billion to $116.41 billion.
Special Drawing Rights, or SDRs, declined by $43 million to $18.81 billion, while India’s reserve position with the International Monetary Fund fell by $11 million to $4.91 billion.
The RBI’s reserve data comprises foreign currency assets, gold, SDRs and the country’s reserve position at the IMF.
Nearly $50 billion added since March
India’s forex reserves have risen by $49.70 billion since the end of March 2026 and by $46.57 billion over the past year, according to the RBI data.
The latest increase follows a $12.4-billion jump in the preceding week. A key contributor to the recent accumulation has been a special deposit programme introduced by the RBI in early June to attract funds from overseas Indians.
RBI penalises three financial firms
Separately, the RBI imposed monetary penalties on three financial-sector companies for regulatory lapses.
Sammaan Finserve was fined ₹4.2 lakh for failing to report credit information relating to a borrower to the Central Repository of Information on Large Credits, or CRILC.
The RBI also imposed a ₹26.82-lakh penalty on TransUnion CIBIL and a ₹6.89-lakh penalty on CRIF High Mark Credit Information Services after they failed to credit compensation to the bank accounts of certain eligible complainants within the prescribed period.
Also Read: India’s forex reserves hit record $729.3 billion, but the dollars don’t come cheap
