India’s Forex Pile Drops as RBI Bolsters Rupee Amid Iran War

The Iran War has pushed the rupee to record lows. — The Iran War has pushed the rupee to record lows.
Photographer: Prakash Singh/Bloomberg

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By Malavika Kaur Makol

March 13, 2026 at 1:14 PM UTC

India’s foreign exchange reserves fell by the most since November 2024 as analysts said the central bank intervened to support the rupee amid volatility from the Iran War.

The forex stockpile fell by $11.68 billion in the week of March 6, according to Reserve Bank of India data released Friday.