India’s forex reserves rise $2.49 billion to $719.55 billion as gold value climbs

India’s forex reserves rose by $2.49 billion in the week ended Friday, 6 November, to $719.55 billion, according to the Reserve Bank of India’s weekly statistical supplement released on Friday, 13 November. The gain wins back most of the $2.69 billion the reserves lost in the week to 30 October, when they had slipped to $717.06 billion.

Gold did most of the lifting. The value of the RBI’s gold holdings climbed $2.21 billion to $104.80 billion, the bulk of the week’s increase. Foreign currency assets, by far the largest part of the reserves, edged up $232 million to $591.35 billion. Special drawing rights and India’s reserve position with the IMF together added $53 million.

Over longer periods, the reserves are $32.51 billion higher than in the same week of 2025 and $28.44 billion above their level at the end of March 2026. Gold, however, is still worth $10.60 billion less than it was at end-March.

The rupee figure moved the other way. Measured in rupees, the reserves fell by Rs 49,742 crore during the week to Rs 67.59 lakh crore, because each dollar held was valued at fewer rupees on 6 November than a week earlier.

September balance of payments

A second RBI release on the same day gave preliminary balance of payments figures for September 2026, the account of all foreign exchange flowing into and out of the country. The current account deficit widened to $7.4 billion from $5.2 billion in September 2025.

Net capital inflows of $16.2 billion more than covered that gap, leaving an overall surplus of $8.8 billion, against a deficit of $5.6 billion a year earlier. For April-September 2026, the overall surplus came to $66.8 billion, compared with a deficit of $6.4 billion in the same six months of 2025. Net deposits by non-resident Indians over the half-year were $125.6 billion, up from $6.1 billion.

Andhra Pradesh, Telangana at Tuesday’s bond auction

The RBI also notified on Friday that 10 states will seek to raise Rs 23,300 crore through a state government securities auction on Tuesday, 17 November. Andhra Pradesh is offering Rs 1,000 crore by reissuing its 7.68% bond that matures in 2051. Telangana is offering the same amount in two lots of Rs 500 crore, reissuing its 7.53% bond of 2039 and its 7.65% bond of 2049. Results will be announced on the day of the auction, and successful bidders pay on Wednesday, 18 November.