India’s foreign exchange reserves declined by USD 8.094 billion to USD 688.894 billion for the week ended May 15, according to data released by the Reserve Bank of India on Friday.
The decline comes after the country’s forex reserves had increased by USD 6.295 billion to USD 696.988 billion in the previous week ended May 8.
India’s forex kitty had touched a record high of USD 728.494 billion in the week ended February 27, 2026. However, reserves have witnessed volatility since then amid heightened geopolitical tensions in the Middle East, which pressured the rupee and prompted RBI intervention in the foreign exchange market through dollar sales.