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Mumbai – During the week ended June 26, India’s foreign‑exchange reserves fell by $5.654 billion, settling at $666.933 billion, according to the Reserve Bank of India (RBI). This follows the prior week’s rise of $963 million, which lifted reserves to $672.587 billion.
The reserve had reached an all‑time high of $728.494 billion on February 27, before a Middle East conflict triggered a series of declines as the rupee weakened and the RBI intervened in the market through dollar sales.
Prime Minister Narendra Modi has urged citizens to conserve foreign exchange by cutting overseas travel, limiting fuel consumption, and postponing gold purchases.
In the latest reporting period, foreign‑currency assets – the main component of the reserve – decreased by $150 million to $541.067 billion. These figures reflect changes in the value of non‑US units, such as the euro, pound, and yen, held »
held in foreign‑exchange reserves.
Gold reserves declined by $5.394 billion to $102.536 billion, while Special Drawing Rights fell by $89 million to $18.558 billion. India’s IMF quota also contracted by $21 million, down to $4.772 billion.
The RBI continues to monitor foreign‑exchange dynamics closely as the country navigates external uncertainties.