India foreign exchange reserves declined by $5.011 billion to stand at $721.016 billion for the week ended October 16, 2026, according to statistical data published by the Reserve Bank of India (RBI). In rupee terms, total reserves were valued at ₹68,46,160 crore, reflecting a weekly drop of ₹1,76,258 crore. The contraction was led by foreign currency assets, which fell by $5.758 billion during the week to $591.847 billion.
Foreign Exchange Reserve Components
Despite the weekly decline, India foreign exchange reserves remained $29.909 billion higher than the level recorded at the end of March 2026, and expanded by $18.736 billion on a year-on-year basis. Gold reserves increased in dollar terms by $706 million to $105.800 billion during the week ended October 16, though in rupee terms they declined by ₹11,937 crore to ₹10,04,583 crore. Special Drawing Rights (SDRs) rose by $30 million over the week to $18.578 billion, while India’s reserve position in the International Monetary Fund (IMF) edged up by $11 million to $4.791 billion.
Commercial Bank Credit and Deposit Trends
Separate data released by the central bank for scheduled commercial banks showed that bank credit stood at ₹2,27,42,777 crore as of October 15, 2026. Bank credit grew by 18.2% year-on-year, compared to 11.6% growth in the corresponding period of 2025. Non-food credit reached ₹2,26,42,685 crore, while food credit stood at ₹10,093 crore. Over the reporting fortnight ended October 15, total credit contracted by 1.1%, or ₹2,52,075 crore.
Aggregate bank deposits stood at ₹2,78,75,910 crore as of October 15, reflecting annual growth of 16.7% compared with 9.5% in the prior year. Time deposits accounted for ₹2,45,76,862 crore of the total, while demand deposits stood at ₹32,99,048 crore. Across the fortnight, aggregate deposits fell by 1.8%, or ₹5,19,170 crore. The RBI noted that under the Banking Laws (Amendment) Act, 2025, the fortnightly reporting framework was revised from alternate Fridays to the 15th and last calendar day of the month, effective December 15, 2025.
Money Supply and Central Bank Liquidity Operations
Broad money supply (M3) reached ₹3,33,00,300 crore as of October 15, 2026, marking a 16.0% year-on-year increase compared to 9.2% growth in 2025. Currency with the public expanded 14.1% over the year to ₹42,55,656 crore. Over the fortnight, broad money contracted by 1.4%, or ₹4,69,584 crore.
In market operations, the RBI absorbed surplus banking liquidity on every day between October 12 and October 18, 2026. Daily net absorption ranged from ₹1,34,268 crore to ₹2,43,633 crore through the Standing Deposit Facility (SDF) and Variable Rate Reverse Repo (VRRR) auctions. The operations included an outright Open Market Operation (OMO) sale of ₹25,000 crore on October 14, 2026. Meanwhile, RBI loans and advances to state governments fell by ₹28,869 crore over the week to ₹29,700 crore as of October 16, while advances to the Central Government stood at zero.
Q1. What was the total value of India’s foreign exchange reserves as of October 16, 2026? India’s foreign exchange reserves stood at $721.016 billion (₹68,46,160 crore) as of October 16, 2026.
Q2. How much did foreign currency assets drop during the week ended October 16, 2026? Foreign currency assets decreased by $5.758 billion (₹1,60,658 crore) to $591.847 billion.
Q3. What was the annual growth rate of bank credit and deposits as of October 15, 2026? Bank credit expanded by 18.2% year-on-year, while aggregate commercial bank deposits increased by 16.7%.
Q4. What open market operation did the RBI execute between October 12 and October 18, 2026? The RBI conducted an outright Open Market Operation (OMO) sale of ₹25,000 crore on October 14, 2026.
Source: RBI
