Foreign Exchange Reserves

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 ..

India's forex reserves drop ₹8 bn to ₹688.894 bn, shows RBI data

India's forex reserves dropped USD 8.094 billion to USD 688.894 billion during the week ended May 15, the Reserve Bank of India (RBI) said on Friday. The overall reserves had jumped by USD 6.295 billion to USD 696.988 billion during the week ended May 8. 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 15, foreign currency assets, a major component of the reserves, decreased by USD 6.483 billion to USD 545.904 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets inclu

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

Gold curbs to IMF loans: How India protected its forex reserves in past

PM Modi's austerity appeal recalls how India used gold curbs, NRI deposits, bonds, and IMF loans to protect forex reserves in past crises

Best of BS Opinion: Threat from Claude calls for stronger governance of AI

From AI-driven cybersecurity risks and JNU's quota policy to India's macroeconomic challenges and the rupee debate, here is a concise roundup of Business Standard's key opinion pieces of the day

India's forex kitty jumps $3.8 billion to reclaim $700-billion mark

India's forex reserves jumped USD 3.825 billion to USD 700.946 billion during the week ended April 10, says RBI. In the previous reporting week ended April 3, the overall reserves had jumped USD 9.063 billion to USD 697.121 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. For the week ended April 10, foreign currency assets, a major component of the reserves, increased by USD 3.127 billion to USD 555.983 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of gold reserves increased by USD 601 million to USD 121.343 billion during the week, the

India's forex reserves plunge $30.5 bn in March amid RBI intervention

Forex reserves decline sharply amid RBI intervention to stabilise rupee; foreign currency assets fall in FY26 even as gold reserves rise

India's forex reserves down $11.7 bn at $716.8 bn on drop in foreign assets

India's foreign exchange reserves fell by $11.7 billion to $716.8 billion in the week ended March 6, mainly due to a decline in foreign currency assets, RBI data showed

Forex reserves rise $14 billion in best week in 10 months: RBI data

At $701 billion, reserves at 13-week high; shy of all-time high of $705 billion

Foreign exchange reserves increase $392 million to $687.19 billion

India's forex reserves increased by USD 392 million to USD 687.19 billion during the week ended January 9, the Reserve Bank of India said on Friday. In the previous reporting week, the overall kitty had dropped by USD 9.809 billion to USD 686.80 billion. For the week ended January 9, foreign currency assets, a major component of reserves, decreased by USD 1.124 billion to USD 550.866 billion, the central bank's data 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 jumped by USD 1.568 billion to USD 112.83 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 39 million to USD 18.739 billion, the apex bank said. India's reserve position with the IMF was down by USD 13 million to USD 4.758 billion in the reporting week, according to the apex bank's data.

Rupee ends flat, caught between softer dollar and corporate hedging

The rupee closed at 90.1525 per dollar, little changed from 90.1625 in the previous session

India's foreign exchange kitty down $10 bn, sharpest in over a year

The previous largest weekly decline was recorded in the week ended November 15, 2024

India's foreign exchange reserves fall by $5.6 bn as gold reserves decrease

The reserves had hit a record high of $705 billion in September 2024

India's foreign exchange reserves increase by $396 million to $702 billion

The reserves had hit a record high of $705 billion in September 2024

India's foreign exchange reserves rise by $4.7 billion to $693 billion

India's foreign exchange reserves rose by $4.7 billion to $693 billion for the week ending August 8, boosted by an increase in foreign currency assets, gold reserves, and IMF holdings

Current account balance posts surplus of 1.3% of GDP in Q4FY25: RBI

India posted a $13.5 billion current account surplus in Q4FY25, the first in three quarters, aided by strong services exports and a decline in primary income outflows

RBI sells $34.5 bn in FY25, highest since global financial crisis

RBI net sold $34.5 billion in FY25 to stabilise the rupee amid US dollar strength, with forex reserves dipping and experts predicting record surplus transfer to government

US remittance tax plan raises discrimination concerns for overseas Indians

The bill proposes the levy on all cross-border remittances made by non-citizens, including H-1B, L-1, and F-1 visa holders, as well as green card holders

RBI adds 58 metric tonnes of gold in FY25; share in reserves nears 12%

RBI added nearly 58 tonnes of gold in FY25, with most stored abroad; gold now accounts for close to 12 per cent of total foreign exchange reserves

India's foreign exchange reserves rise by $8 billion to six-month high

The reserves had hit a record high of $705 billion in September 2024