FX.co ★ India’s FX Reserves Slip to $765.9 Billion, Easing from Record Highs

India’s foreign exchange reserves have eased to USD 765.90 billion, down from a previous level of USD 780.78 billion, according to the latest update as of 25 September 2026. The data show a moderation from what appears to have been an elevated or near-peak position in recent readings.

The decline in reserves suggests a net drawdown of around USD 15 billion over the latest period measured. While no specific drivers were disclosed in the provided data, such movements typically reflect a mix of factors including valuation effects on reserve assets, changes in the central bank’s intervention in currency markets, and shifts in external payments or capital flows.

Despite the pullback, India’s FX buffers remain substantial in absolute terms, continuing to provide a significant cushion for the country’s external sector and financial stability. Market participants will likely watch forthcoming data for signs of whether this shift marks the start of a broader trend or a temporary adjustment around high reserve levels.