India’s Strength: Forex Reserves Hit $688 Billion

India’s foreign exchange reserves rose for the eighth straight week, reaching $688.1 billion as of April 25—the highest level since October, according to the Reserve Bank of India. This marks a $1.98 billion rise from the previous week, following a $9.3 billion jump the week before.

India now stands as the world’s fourth-largest holder of forex reserves, after China, Japan, and Switzerland—enough to cover about a year of imports. The reserves have steadily recovered after dipping from a $700 billion peak in late 2023. The increase is notable despite foreign investors pulling out $10.5 billion from Indian markets in 2025 so far.

Foreign currency assets rose to $580.6 billion, while gold reserves dipped slightly by $207 million to $84.36 billion. The rupee, though volatile amid global trade strains and domestic slowdown, has stabilized recently with hopes of a US-India trade agreement aiding sentiment.