Sep 05: ASSOCHAM has welcomed India’s foreign exchange reserves reaching a record high of USD 740.80 billion as of August 28, 2026, reflecting a robust external sector and strengthening confidence in the Indian economy.
The reserves increased by USD 11.48 billion during the week, marking the ninth consecutive weekly rise. Foreign Currency Assets, the largest component of India’s reserves, crossed the USD 600 billion milestone, rising by USD 9.34 billion over the previous week.
Gold reserves, the second-largest component, stood at USD 116.41 billion.
ASSOCHAM President Sh. Nirmal K Minda said that the record accumulation of foreign exchange reserves provides a strong cushion against global economic uncertainties and external shocks.
A robust forex position will contribute to greater currency stability, strengthen macroeconomic resilience, support economic growth and enhance investor confidence, said Mr Minda
The strong reserve position also improves India’s capacity to manage external financing requirements, strengthens the country’s global financial standing and enhances its international competitiveness, he said
It provides greater policy space to navigate volatility in global financial markets, commodity prices and capital flows, said the industry body ASSOCHAM