2026-08-10
Why India’s foreign reserves changed this month
A $6 bn weekly rise reflects valuation effects and continued capital inflows — not a one-off intervention spike.
India’s foreign exchange reserves moved higher in the latest weekly print, taking the stock near $690 billion.
Part of the move is dollar valuation of non-USD assets; the rest tracks portfolio flows into equities and bonds as the policy rate stayed restrictive.
For structured context, compare the reserves path with inflation and the RBI policy rate rather than reading the weekly print in isolation.