RBI’s Capital‑Attracting Measures Push India’s Reserve Assets Above $729 Billion

New Delhi — A fresh RBI report shows that India’s pool of external assets topped $729.33 billion for the week that ended on 21 August 2026, a $12.4 billion jump from the prior week and a new record.

Foreign currency assets accounted for the bulk of the gain, expanding by $9.482 billion to $591.333 billion. The gold reserve also climbed, adding $2.801 billion and reaching a total value of $114.218 billion.

The country’s IMF‑related holdings were bolstered as well: SDRs rose by $112 million to $18.852 billion, and the reserve tranche position increased by $26 million to $4.925 billion.

These improvements follow a series of RBI initiatives launched in early June 2026, designed to draw foreign capital. A flagship deposit program for non‑resident Indians succeeded in channeling about $72.8 billion into India’s financial markets by 21 August, improving the payment balance and keeping the current account in the black for a third consecutive year.

While the inflow helps stabilize the rupee, analysts point out that the cost of hedging these streams has risen with the surge in U.S. interest rates, making the programs more expensive for Indian banks. Nonetheless, the expanded reserves give the central bank greater flexibility to intervene in forex markets and to shield the economy from external volatility, commodity‑price swings and geopolitical uncertainty.