# Weekly economy wrap: Forex reserves at record high as monsoon risk persists | Economy & Policy News - Business Standard

> India's foreign exchange reserves rose $12.4 billion to a record $729.3 billion in the week ended August 21. Rainfall was 13% below normal from June 1 to August 26, with 14 states and territories recording deficits, and the government reopened wheat exports that week.

- Date: 2026-08-30 · published 2026-08-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/17884-weekly-economy-wrap-forex-reserves-at-record-high-as-monsoon-risk-persists
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A weak monsoon raises risk to India's crop output and food inflation, which can affect Indian grain and oilseed demand and trade policy.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2024-11-15 | [Agricultural Exports and Trade Policy Responses \| Economic and Political Weekly](https://feedsoft.ai/events/27371-agricultural-exports-and-trade-policy-responses-economic-and-political-weekly.md) | +3.4% | +2.1% |
| RICE | 2019-03-22 | [Strong rupee pushes rice prices to seven-month high, dampening exports \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/60167-strong-rupee-pushes-rice-prices-to-seven-month-high-dampening-exports-commodity.md) | -1.6% | -6.0% |
| RICE | 2019-05-05 | [India: Agricultural trade powerhouse \| Expert Views - Business Standard](https://feedsoft.ai/events/59030-india-agricultural-trade-powerhouse-expert-views-business-standard.md) | +2.4% | +11.7% |
| RICE | 2020-06-30 | [Rupee depreciation to help boost Indian farm, textile and jewellery exports \| Finance Other News - Business Standard](https://feedsoft.ai/events/52895-rupee-depreciation-to-help-boost-indian-farm-textile-and-jewellery-exports.md) | +20.6% | -16.6% |
| RICE | 2022-12-01 | [Raw material commodity prices retreat as the global economy slows](https://feedsoft.ai/events/8184-raw-material-commodity-prices-retreat-as-the-global-economy-slows.md) | -6.2% | +0.5% |
| WHEAT | 2024-11-15 | [Agricultural Exports and Trade Policy Responses \| Economic and Political Weekly](https://feedsoft.ai/events/27371-agricultural-exports-and-trade-policy-responses-economic-and-political-weekly.md) | -0.2% | +0.2% |
| WHEAT | 2024-11-06 | [Wheat, corn and soy fall as market anticipates Trump win - Markets - Business Recorder](https://feedsoft.ai/events/10552-wheat-corn-and-soy-fall-as-market-anticipates-trump-win-markets-business.md) | -0.9% | -2.0% |
| WHEAT | 2019-05-05 | [India: Agricultural trade powerhouse \| Expert Views - Business Standard](https://feedsoft.ai/events/59030-india-agricultural-trade-powerhouse-expert-views-business-standard.md) | -5.4% | -9.6% |

## Sources

- business-standard.com: https://www.business-standard.com/economy/news/weekly-economy-wrap-forex-reserves-monsoon-risk-food-policy-126083000195_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.