Econvitals IndiaExternal sector
How large are India's foreign exchange reserves, and how is the rupee doing? Reserves were $721.0 billion in the week to 16 Oct 2026.
Foreign exchange reserves
US$ billion, week ending Friday
USD/INR reference rate
Rupees per US dollar, FBIL 1 pm fixing
| US$ billion, week ended | 11 Sep 2026 | 18 Sep 2026 | 25 Sep 2026 | 2 Oct 2026 | 9 Oct 2026 | 16 Oct 2026 |
|---|---|---|---|---|---|---|
| Total reserves | 780.8 | 765.9 | 747.6 | 734.6 | 726.0 | 721.0 |
| Foreign currency assets | 645.8 | 631.0 | 615.4 | 604.7 | 597.6 | 591.8 |
| Gold reserves | 111.2 | 111.3 | 108.7 | 106.4 | 105.1 | 105.8 |
RBI Weekly Statistical Supplement. Changes in reserves reflect RBI's market operations and valuation changes in currencies and gold, which the weekly data do not separate.
Merchandise trade
Merchandise exports and imports
US$ billion per month
Merchandise trade balance
US$ billion per month
| US$ billion | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Merchandise exports | 43.6 | 45.2 | 40.4 | 44.2 | 43.8 | 44.4 |
| % y/y | 13.8 | 18.0 | 15.5 | 19.6 | 26.1 | 23.0 |
| Merchandise imports | 71.9 | 73.4 | 70.8 | 76.2 | 70.7 | 74.6 |
| % y/y | 10.0 | 20.6 | 31.0 | 17.5 | 14.1 | 8.0 |
| Trade balance | −28.4 | −28.2 | −30.4 | −32.0 | −26.9 | −30.2 |
Department of Commerce (monthly SDDS table). The latest month is provisional; the following year's release revises it, and the revised value is used.
Services trade
Services exports and imports
US$ billion per month
Services trade growth, as published
% change on the same month a year earlier
RBI's monthly data on trade in services, about 45 days after the month; the latest two months are provisional. India runs a large surplus on services, which offsets much of the merchandise deficit. Shown with attribution; download pending a check of RBI's terms.
Balance of payments
Current account balance
% of GDP, quarterly (negative = deficit)
Capital flows
US$ billion per quarter, net
| US$ billion, net | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Current account | −3.4 | −12.3 | −13.2 | 7.1 | −4.2 |
| Goods | −68.9 | −87.4 | −93.6 | −83.4 | −86.1 |
| Services | 47.9 | 50.9 | 57.5 | 60.4 | 51.6 |
| Primary income | −13.3 | −12.2 | −12.2 | −11.1 | −10.5 |
| Secondary income (mainly remittances) | 30.9 | 36.5 | 35.2 | 41.3 | 40.8 |
| Current account, % of GDP | −0.4 | −1.3 | −1.3 | 0.7 | −0.5 |
| Net FDI | 5.2 | 2.9 | −3.7 | 4.2 | 6.1 |
| Net portfolio flows | 1.6 | −5.7 | −0.2 | −12.0 | −9.6 |
Current account, monthly
US$ billion (RBI's monthly balance of payments, published since 2026; preliminary)
RBI's balance-of-payments releases. The latest quarter is preliminary and each release revises the same quarter a year earlier; we keep the latest figure.
Still to come on this page
the current account (quarterly balance of payments), REER/NEER, capital flows, remittances and external debt. Checklist: docs/guidebook/05-pages/external.md.