Synopsis: India’s foreign exchange reserves rose $2.49 billion to $719.55 billion in the week ended 6 November 2026, according to RBI data released on 13 November. Almost all of the gain came from gold, which rose $2.21 billion to $104.80 billion, while foreign currency assets rose only $232 million.
India’s foreign exchange reserves stood at $719.547 billion in the week ended 6 November 2026, up $2.491 billion from $717.056 billion a week earlier, according to the Reserve Bank of India’s Weekly Statistical Supplement released on Friday.
Gold did the work
The value of gold reserves rose $2.205 billion to $104.796 billion, accounting for nearly 90% of the weekly increase (EQMint calculation). Foreign currency assets, the largest component, rose just $232 million to $591.35 billion. Special Drawing Rights rose $52 million to $18.61 billion and the reserve position with the IMF rose $1 million to $4.79 billion.
The weekly figures are provisional and are valued in US dollars, so changes in the dollar’s value against other reserve currencies such as the euro, pound and yen also move the total, not only RBI buying or selling. Reading the foreign currency assets line alongside the gold line gives a clearer view of what the central bank actually did in the market.
Why it matters
The headline rise flatters the picture. Gold’s value moves with global gold prices, so a jump in the gold line usually reflects revaluation rather than new buying. The foreign currency assets the RBI uses to manage the rupee barely moved. Reserves are still $28.44 billion higher than at the end of March 2026, but they have been falling from their September record, so one week’s rise does not yet mark a turn.
The data come as inflation pressure builds: retail inflation rose to 6.09% in October. India’s forex reserves were also among the trending finance searches on Google this week.
Sources
Disclaimer: This article is for information purposes only and is not investment advice.
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