Forex Reserves

After FCNR(B) highs, forex kitty shrinks by $51 billion in four weeks

Reserves have lost about $51.1 billion from their September 4 peak as the RBI supports the rupee amid higher crude oil prices; foreign currency assets fell $10.7 billion

FX reserves fall for fourth week, down $50 billion from September peak

The reserves have dropped from their recent peak of $785.71 billion on September 4, a decline of about $50 billion in less than a ‌month

India's forex reserves fall $18.3 bn, post biggest weekly decline on record

Foreign exchange reserves have fallen for three straight weeks, losing about $38.2 billion, as the RBI intervenes to support the rupee amid higher crude oil prices

Best of BS Opinion: RBI's currency intervention must be limited

From RBI intervention in the rupee and questions over electoral-roll revisions to distressed assets, India's growth challenges and political grief, today's opinions examine institutional and economic

Forex reserves fall $14.9 billion, sharpest weekly drop since Nov 2024

Foreign currency assets fell $14.8 billion during the week ended September 18, with an economist attributing $10.9 billion of the decline to actual dollar sales

India's forex reserves fall $14.89 billion to $766 billion: RBI data

India's forex reserves dropped by USD 14.881 billion to USD 765.901 billion during the week ended September 18 due to a fall in foreign currency assets, according to the RBI data released on Friday. In the previous reporting week, forex reserves had fallen by USD 4.924 billion to USD 780.782 billion. For the week ended September 18, foreign currency assets, a major component of reserves, fell by USD 14.816 billion to USD 630.980 billion, according to the data released by the Reserve Bank of India (RBI). 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 foreign exchange reserves. The value of gold reserves increased by USD 68 million to USD 111.292 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down USD 106 million to USD 18.739 billion. India's reserve position with the IMF stood at USD 4.89 billion.

FCNR(B) funds find a runway ahead of festival season-led credit demand

RBI Deputy Governor Rohit Jain said banks have an opportunity to deploy FCNR(B) liquidity in the coming months, while maintaining healthy credit standards

India's foreign exchange reserves drop by $4.9 billion from record high

The decline came after reserves posted their biggest-ever weekly increase of $44.9 billion, driven by strong foreign currency inflows under the RBI's swap window

Record reserves

Liquidity and bank lending will need careful management

Record $44.9 bn surge in a week makes India 4th-largest Fx holder

Gold reserves, by contrast, declined by $2.59 billion to $113.81 billion during the week as gold prices fell 0.56 per cent to $4,429 an ounce

Weekly policy watch: Coal gasification deadline, forex reserves in focus

The week's policy agenda will focus on the coal gasification scheme, possible changes to plantation FDI rules 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,

From BoP crisis to record reserves, RBI's forex strategy pays dividends

That swing has been made possible by a shift in forex management policy that was forged in the fire of the balance-of-payments crisis of 1991

Rising forex reserves

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

Weekly economy wrap: Forex reserves at record high as monsoon risk persists

Record forex reserves and stronger credit flows provided support, but uneven monsoon rains, food-price interventions and external risks kept policymakers on alert

India's forex reserves rise $12.4 billion to record high of $729.3 billion

India's forex reserves jumped USD 12.422 billion to a new all-time high of USD 729.328 billion during the week ended August 21, the RBI said on Friday. In the previous reporting week, the kitty had increased USD 9.905 billion to USD 716.907 billion. 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. 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. For the week ended August 21, foreign currency assets, a major component of the reserves, increased USD 9.482 billion to USD 591.333 billion, the central bank's data showed. Expressed in dollar terms, foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves. It can be recalled that the central bank and the government had last month

RBI FCNR(B) swap window inflows swell to $65.39 bn, total hits $72.85 bn

FCNR(B) deposits dominate inflows under RBI's special forex swap facility ahead of the August 31 deadline; ECB and OFCB windows remain open until December 31

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

India's forex reserves jump $9.9 bn to $716.9 bn in week ending Aug 14

India's forex reserves jumped USD 9.905 billion to USD 716.907 billion during the week ended August 14, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week ended August 7, the overall kitty had jumped USD 14.136 billion to USD 707.002 billion. Reserves 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 that 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 August 14, foreign currency assets, a major component of the reserves, increased USD 7.225 billion to USD 581.851 billion, the central bank's data showed. Expressed in dollar terms, foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves. The RBI and the government had launched a series of measures to att

$10.5 bn FCNR (B) swap cost over 5 years is 1.45% of forex kitty: Report

Cost is unlikely to have constrained RBI's decision to close the swap window early; reserves could rise to $800 billion over five years, the report said