{
  "id": 6765324,
  "title": "India's forex reserves surge $44.9 billion to record $785.7 billion, fourth largest globally",
  "url": "https://urgent.news/2026/09/11/indias-forex-reserves-surge-44-9-billion-to-record-785-7-billion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-11T13:13:00.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/indicators/indias-forex-reserves-surge-44-9-billion-to-record-785-7-billion-fourth-largest-globally/articleshow/134069703.cms"
  },
  "original_language": "en",
  "account": "India's foreign-exchange reserves reached a record high of $785.706 billion in the week to September 4, marking a surge of $44.903 billion. This makes India the fourth largest holder of forex reserves globally, following China, Japan, and Switzerland. The increase in reserves was primarily driven by a dedicated dollar-mobilization program, which exceeded market expectations. The foreign currency assets grew by $47.498 billion in the reporting week alone, reaching a total of $648.168 billion, according to the Reserve Bank of India's latest weekly statistical bulletin. However, gold reserves contracted by $2.594 billion to $34.944 billion during the same period.\n\nThe forex reserves have been on an upward trend for the 10th consecutive week, with a cumulative $119 billion gain, strengthening the central bank's ability to intervene in the forex market. RBI sold $7.7 billion in the spot market in August to support the local currency and reduce volatility, without purchasing dollars. The reserve bank has, however, obtained the bulk of the increase through a special dollar-rupee swap facility with banks, which accumulated $136.377 billion through the dedicated dollar-inflow program in approximately two-and-a-half months. Inflows into foreign currency non-resident bank (FCNR-B) deposits alone amounted to $127.226 billion, helping stabilize the foreign exchange market and improve sentiment. RBI Governor Sanjay Malhotra stated that on a net basis, the overseas flows would generate additional revenue for RBI through interest earned on the investments of the additional flows. The higher-than-expected inflows led the RBI to close the FCNR-B window on August 31, instead of the scheduled September 30. The dollar-mobilization scheme, including external commercial borrowing and overseas foreign currency borrowing, will continue until December 31.",
  "summary": "India's foreign-exchange reserves surged to a record $785.706 billion. This surge was driven by a dedicated dollar-mobilisation programme and strong inflows. Foreign currency assets increased significantly, while gold reserves saw a contraction. The central bank's intervention supported the local currency and curbed volatility. These substantial inflows have stabilized the foreign exchange market…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Top News",
        "title": "India's forex reserves surge $44.9 billion to record $785.7 billion, fourth largest globally",
        "url": "https://urgent.news/2026/09/11/indias-forex-reserves-surge-44-9-billion-to-record-785-7-billion-6844222",
        "published": "2026-09-11T13:13:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}