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Sources of Variation in India’s Foreign Exchange Reserves during April-June 2026

Today, the Reserve Bank of India released the balance of payments (BoP) data for the first quarter (Q1), i.e., April-June of 2026 on its website ( www.rbi.org.in ).

  • Foreign exchange reserves decreased by US$ 8.1 billion in April-June 2026
  • Valuation loss from gold price decline and US dollar appreciation totaled US$ 14.4 billion
  • Reserves increased by US$ 4.5 billion in the same period in 2025

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