Economy, Banking and Finance · 7 February 2026
Reserve Bank of India (RBI) Forex Reserves Reach Record High of $709.4 Billion
Exam-focused facts from the 7 February 2026 current affairs briefing.
Key facts
- The Reserve Bank of India (RBI) reported that India’s foreign exchange reserves reached a record high of $709.4 billion for the week ended 23 January 2026.
- The total reserves increased by $8.05 billion during the reporting week, comprising a $5.6 billion rise in gold reserves and a $2.37 billion increase in foreign currency assets.
- Gold prices surged by 8.5% to reach $4,987 per ounce during the week, which significantly contributed to the growth in reserves.
- The previous record for forex reserves was $704.89 billion, which was established in September 2024.
- The reserves were also supported by the settlement of a matured Non-Deliverable Forward (NDF) position worth approximately $3 billion in the Over-the-Counter (OTC) market on 16 January 2026.
- The Indian rupee closed at a record low of 91.99 against the US dollar on 30 January 2026 due to trade uncertainties and persistent capital outflows.