India’s forex reserves at record high of USD 785.7 Bn- RBI

Mumbai, Sep 14: India’s forex reserves jumped by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion during the week ended September 4, 2026, Reserved bank of India data has said.
In the previous reporting week, the overall reserves increased USD 11.47 billion to a new all-time high of USD 740.8 billion., news agency PTI reported.
The increase is fully attributed to the RBI’s concessional forex swap initiatives that allowed banks a free hand to price the three and five year deposits which also offered a free leverage that ran up to 20x leveraged lending against those deposits apart from allowing banks to price freely which saw up to 7 per cent interest offering even as the reserve bank bear the entire hedging cost that varies between 3 and 3.5 per cent.
The forex kitty had been declining since the start of the Iran war in March, as the rupee came under intense punting pressure and the RBI had to intervene in the forex market through dollar sales.