The Reserve Bank of India said the Indian economy stayed resilient in its September 2026 Bulletin, reporting 7.8 per cent real GDP growth in the first quarter of FY2026-27. The central bank pointed to strong services exports, steady remittances and foreign direct investment as key supports for the external sector.

Foreign exchange reserves stood at $765.9 billion as of September 18, down $14.88 billion over the week, according to RBI’s weekly data reported by BusinessLine. The fall was driven mainly by a $14.82 billion drop in foreign currency assets. Reserves had stood higher at $780.78 billion in the week to September 11.

Headline CPI inflation was 4.8 per cent in August 2026, and the Bulletin noted a broad-based sequential rise in food prices, including rice, wheat, pulses and edible oils, up to September 21.

The RBI flagged rising risks from geopolitical tensions, including the West Asia conflict pushing up crude prices, higher global bond yields and weather uncertainty. Foreign portfolio investors turned net sellers in September. A special FCNR(B) deposit window, which closed on August 31, mobilised $143.6 billion in total, and the private-sector capex pipeline for FY2026-27 was estimated at about Rs 3.2 lakh crore.