India’s foreign exchange reserves increased by USD 6.29 billion and reached USD 696.99 billion for the week ending May 8, according to the Reserve Bank of India (RBI). This happened after the reserves had fallen by USD 7.79 billion in the previous week.
The biggest rise came from gold reserves, which went up by USD 5.64 billion to USD 120.85 billion. Foreign currency assets, which make up the largest share of the reserves, also increased by USD 562 million to USD 552.39 billion.
Special Drawing Rights (SDRs) also saw a small rise of USD 84 million and reached USD 18.87 billion. At the same time, India’s reserve position with the International Monetary Fund (IMF) increased by USD 12 million to USD 4.88 billion.
India’s forex reserves had touched a record high of USD 728.49 billion in February 2026. But tensions in West Asia and rising crude oil prices put pressure on the Indian rupee. To control this, RBI had to sell dollars in the market, which caused reserves to fall in recent weeks.
The latest increase shows some recovery and gives India better protection against global risks, especially at a time when oil prices remain high and import costs are rising.
