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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Foreign Exchange Reserves climbed to 674.19B in July 2026
FMPMonthlyReleased July 2026
India Foreign Exchange Reserves climbed to 674.19B in July 2026, up 7.26B from June's 666.93B reading. The reading missed the 715B consensus by 40.81B. Over the past 3 months, Foreign Exchange Reserves averaged 689.63B, vs 710.45B in the prior 3-month window. The reading is in the 4th percentile of the trailing 24-month range.
Latest Release
674.19
Actual
715
Consensus
666.93
Previous
Median Absolute Error
±10.01 billion
across last 12 releases
Last Call
Jul 2026
Predicted: 715
Actual: 674.19
Error: +40.81
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
THE RELEASE
Foreign Exchange Reserves (India) was reported at 785.71 billion in September 2026. The reading rose from the previous value of 740.80 billion. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 700.46, ranging from 671.63 to 785.71 across 43 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 751.95, up from the prior three at 705.59. Volatility over the past year (σ 21.09) is lower than the prior year (σ 24.58). In September readings over the past 3 years, Foreign Exchange Reserves has averaged 681.32.
THE MODEL'S TAKE
Over the last 12 releases, the Sigmacast model's median absolute error is 10.01.
WHAT TO WATCH NEXT
The next release is scheduled for September 18, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 15) and HSBC Manufacturing PMI (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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Foreign Exchange Reserves - IN
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About Foreign Exchange Reserves — India
DEFINITION
Foreign Exchange Reserves refer to the amount of foreign currency held by a country's central bank. These reserves are used to maintain stability in the country's currency and to fulfill international payment obligations. They serve as a measure of a country's economic strength and ability to withstand external shocks. Foreign Exchange Reserves are an important financial indicator for investors and policymakers, providing insight into a country's monetary policy and its ability to manage its currency.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Sep 2026): actual 785.7 B. Prior reading (Sep 2026): 740.8 B. Before that (Aug 2026): 729.3 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - IN Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:30 | IN | WPI Manufacturing YoY | 8.37 | 8.29 | 8.5 | 9.11 | Low |
| 06:30 | IN | WPI Inflation YoY | 9.92 | 9.78 | 9.89 | 10.04 | Low |
| 06:30 | IN | WPI Food Index YoY | 7.05 | 6.65 | 6.7 | 7.38 | Low |
| 06:30 | IN | WPI Fuel YoY | 22.93 | 20.05 | 15 | 18.31 | Low |
| 10:30 | IN | Inflation Rate MoM | 0.73 | 0.88 | 0.6 | 0.67 | Low |
| 10:30 | IN | Inflation Rate YoY | 4.82 | 4.44 | 4.8 | 4.81 | Medium |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | IN | Balance of Trade | -31.98 | -33 | -33.61 | Medium | |
| 10:30 | IN | Unemployment Rate | 5.1 | 5.2 | 5.30 | Low | |