India's Foreign Exchange Reserves Surge Past $707 Billion

The Reserve Bank of India reported that India's foreign exchange reserves surged by approximately $14.14 billion during the week ended August 7, 2026, pushing the total above $707 billion. This growth was primarily driven by a $9.95 billion increase in foreign currency assets and a $4 billion rise in gold reserves. Since March 2026, overall reserves have grown by $15.89 billion, representing a year-on-year increase of $13.38 billion.

In contrast, the State Bank of Pakistan reported a marginal increase of $23.7 million in total liquid foreign exchange reserves for the same period, bringing the total to $22,498.3 million. Central bank holdings within Pakistan rose by $14 million. While Pakistan's reserves have increased by $1.756 billion in the current calendar year, they remain $735 million lower on a fiscal year-to-date basis. The Pakistani rupee closed at 277.65 against the US dollar.