India’s Forex Reserves Slip to $691.11 Billion in RBI’s 46th Half-Yearly Report
Why it matters
The Reserve Bank of India’s 46th Half-Yearly Report tracks a $8.98 billion contraction in foreign exchange reserves over the six months ending March 2026. While the total stood at $700.09 billion in October 2025, it closed the fiscal half at $691.11 billion. This shift reflects the ongoing management of Foreign Currency Assets (FCA) and gold holdings against a backdrop of global currency volatility and internal liquidity requirements.
Operational since February 2004, these reports satisfy the IMF’s Special Data Dissemination Standard (SDDS). By April 24, 2026, data showed Foreign Currency Assets valued at approximately ₹52,26,609 crore, with Gold reserves making up ₹11,33,076 crore. These reserves function as a shock absorber, protecting the Indian Rupee from excessive depreciation and ensuring the country can meet its external obligations during periods of capital outflow.
- Reporting Period: October 2025 – March 2026
- Net Change: -USD 8.98 billion
- Reporting Frequency: Biannual (Half-Yearly)
Glossary
FCA: Foreign Currency Assets represent the largest chunk of reserves, held in diversified currencies like the USD, Euro, and Yen.
SDR: Special Drawing Rights are an international reserve asset created by the IMF to supplement member countries' official reserves.
NaukriSync Exam Angle
Indian Economy: Note that India's reserves reached $691.11 billion by March 2026. The 46th report marks over two decades of this transparency practice. Focus on the four components of forex reserves: Foreign Currency Assets, Gold, SDRs, and the Reserve Tranche Position with the IMF.