Foreign Exchange Reserve

India's foreign exchange reserves drop by $2.69 billion to $717 billion

India's forex reserves dropped by USD 2.691 billion to USD 717.056 billion during the week ended October 30, the RBI said on Friday. In the previous week, the forex kitty had reduced by USD 1.269 billion to USD 719.748 billion. The reserves had touched an all-time high of USD 785.706 billion during the week ended September 4, driven by a heavy flow of currency as part of a special concessional swap for deposits from the diaspora through which banks raised a record USD 133 billion, but have been on a decline ever since. Experts attribute this decline to the deployment of the FCNR(B) resources and also to currency defence put up by RBI through dollar sales. During the week ended October 30, foreign currency assets, a major component of reserves, decreased by USD 2.088 billion to USD 591.118 billion, according to the data released by Reserve Bank of India (RBI). Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, suc

India forex reserves fall $1.27 bn to $719.75 bn as gold holdings dip

India's forex reserves fell by $1.27 billion to $719.75 billion in the week ended October 23, as a $2.65 billion decline in gold reserves outweighed gains in foreign currency assets.

Best of Opinion: India must step up to reshape WTO to benefit Global South

Today's editorials and columns examine delays in satellite broadband approvals, highway construction safety, India's role in WTO reforms, the RBI's rupee strategy and the struggle for women's rights

RBI has spent half of $140 bn FX capital to defend rupee, bankers estimate

RBI has deployed an estimated $75 bn-$80 bn through spot dollar sales and currency swaps since June, as high oil prices, rising US Treasury yields and foreign equity outflows weigh on the rupee

RBI extends forex risk reserve requirement to banks' own hedging contracts

The central bank has mandated a 20 per cent reserve on eligible rupee derivative contracts used by authorised dealers to hedge their own currency risks, without a minimum transaction threshold

Weekly policy watch: Goyal-Greer meet, IIP, PMI and forex data in focus

India's policy calendar this week will track industrial output, manufacturing activity and fresh forex reserves data

India's forex kitty jumps $11.47 bn to fresh all-time high of $740.8 bn

India's forex reserves jumped USD 11.475 billion to a new all-time high of USD 740.803 billion during the week ended August 28, the RBI said on Friday. In the previous reporting week, the kitty increased USD 12.422 billion to a USD 729.328, then a record high. The previous all-time high had stood at USD 728.494 billion was attained during the week ended February 27 this year, right before the onset of the Middle East conflict. The geopolitical tensions led to several weeks of a drop as the rupee and the RBI had to intervene in the forex market through dollar sales. The reserves have been increasing since the RBI announced the concessional forex swap initiatives in June this year amid a sharp depreciation in the local currency. The move has yielded over USD 132 billion in new flows. For the week ended August 28, foreign currency assets, a major component of the reserves, increased by USD 9.337 billion to USD 600.67 billion, the central bank's data showed. Expressed in dollar terms,

Rising forex reserves

Besides the uncertainty in West Asia, India must also be prepared for shifts in global financial conditions

Foreign currency assets fuel $50 bn forex reserve surge since June-end

Reserves have risen by nearly $50 billion since the last week of June, while foreign currency assets increased by $7.23 billion and gold reserves gained $2.68 billion

RBI net sells $6 billion in spot forex market in May amid volatility

The central bank remained a net seller of dollars in May to curb rupee volatility amid higher crude oil prices, though interventions eased from April levels

RBI drops separate onshore-offshore foreign-exchange position calculation

The revised framework aligns foreign exchange risk calculations with Basel standards and allows certain structural foreign-currency exposures to be excluded from NOP calculations

India's foreign exchange reserves up by $938 mn to $682 bn, says RBI

India's forex reserve jumped by USD 938 million to USD 682.321 billion during the week ended May 28, the Reserve Bank said on Friday. In the previous reporting week, the kitty dropped USD 7.511 billion to USD 681.384 billion. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the onset of the Middle East conflict which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. Prime Minister Narendra Modi has also made multiple public appeals starting May 11 to countrymen to conserve forex by cutting down on foreign travel, limiting fuel use and refraining from gold buys for a year. For the week ended May 29, foreign currency assets, a major component of the reserves, increased USD 3.116 billion to USD 546.148 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or ..

Rupee logs sharpest gain in 2 months; best-performing Asian currency

The rupee rose sharply on lower crude oil prices and likely RBI intervention, even as India's foreign exchange reserves fell to their lowest level in over a year

India's foreign exchange reserves still robust to defend rupee: Economists

The central bank's reserves, despite being among the world's biggest, are facing tougher scrutiny from investors as the rupee hits record lows

Govt mulling emergency measures to protect foreign-exchange reserves

Officials in the Prime Minister's Office and Finance Ministry have held discussions with the Reserve Bank of India on several measures that could be taken to limit the damage from soaring oil prices

India's forex reserves jump $9 bn to $697.1 bn in week ended April 3

In the previous reporting week, overall forex reserves had dropped by $10.28 billion to $688.05 billion

India's forex reserves drop $10.28 bn to $688.05 bn in week ended March 27

In the previous reporting week, the overall reserves had dropped $11.413 billion to $698.346 billion

India's foreign exchange reserves drop $11.68 billion to $716.81 billion

India's forex reserves dropped by USD 11.683 billion to USD 716.810 billion during the week ended March 6, the RBI said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.885 billion to an all-time high of USD 728.494 billion. For the week ended March 6, foreign currency assets, a major component of the reserves, decreased by USD 9.880 billion to USD 563.245 billion, according to data released by the central bank. Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. The value of the gold reserves declined by USD 1.612 billion to USD 130.017 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 146 million to USD 18.720 billion. India's reserve position with the IMF also fell USD 45 million to USD 4.828 billion in the reporting week, according to data.

India's forex exchange reserves drop $2.1 billion to $723.6 billion

India's forex reserves dropped by USD 2.119 billion to USD 723.608 billion during the week ended February 20, the RBI said on Friday. In the previous reporting week, the overall reserves had jumped by USD 8.663 billion to a new all-time high of USD 725.727 billion. For the week ended February 20, foreign currency assets, a major component of the reserves, decreased by USD 1.039 billion to USD 572.564 billion, the data released by the central bank showed. Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of the gold reserves dropped by USD 977 million to USD 127.489 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 84 million to USD 18.84 billion, the apex bank said. India's reserve position with the IMF was also down by USD 18 million to USD 4.716 billion in the reporting week, according to

RBI, money creation, and govt finances: Why non-bank debt will matter ahead

Large transfers and bond buys by the Reserve Bank of India have supported fiscal maths and liquidity; sustaining this when inflation or capital flows shift may prove harder