Page 3 - India's Forex Resreve

'India has fairly large forex reserve to deal with current situation'

Economic affairs secretary Ajay Seth on Tuesday dismissed the concerns over depletion of forex reserve as "overblown" and said India has fairly large reserve to tide over the current situation. Foreign exchange reserves were down for a seventh continuous week, dropping to USD 545.65 billion on September 16. The reserves, which have been dipping as the central bank deploys the kitty to defend the currency amid a pressure caused majorly by global developments, had declined by USD 2.23 billion to USD 550.87 billion in the previous week. "There has been a depletion as inflows have come down and trade deficit is higher...I don't see this as a concern, India has fairly large reserves to tide over this situation," Seth said. After hitting a record low at 81.67 against dollar on Monday, the rupee recovered on Tuesday and closed at 81.58 against the greenback. Finance minister Nirmala Sitharaman on Monday had said "due to the strength of our microeconomic fundamentals, rupee is holding out

Rupee breaches 81 vs USD before RBI steps in; FX reserves at near 2-yr low

So far in 2022, the local currency has depreciated 8.2 per cent versus the greenback

Forex reserves fall $8.062 bn to $580.252 bn in week ended July 8: RBI data

During the reporting week ended July 8, the decrease in the reserves was on account of a fall in the Foreign Currency Assets, a major component of the overall reserves, and in gold reserves, RBI said.

India's forex reserves decline 1.53% by $9.65 bn to $622.27 bn

In the previous week ended March 4, the reserves rose $394 million to $631.92 billion

Forex reserves decline by $1.425 bn on a dip in currency assets

The overall reserves had increased by USD 2.762 billion to USD 632.952 billion in the previous reporting week

India's forex reserves down by $1.763 billion to $630.19 billion

The country's foreign exchange reserves declined by $1.763 billion to $630.19 billion in the week ended on February 11, the RBI data showed.

India's foreign exchange reserves up by $1.492 billion to $641 billion

FCAs rose by $950 million to $577.951 billion, as per weekly data by the Reserve Bank of India

RBI buys record gold this year: At 700 tonnes, reserves up 27% in 2 years

The central bank's gold reserves stood at 705.6 tonnes as on June 30. The gold reserves were at 558.1 tonnes in the beginning of 2018

Forex reserves surge by $4.34 billion to $581.21 billion: RBI data

This comes after it declined for two consecutive quarters

Forex reserves down by $249 million to $583.697 billion

The country's foreign exchange reserves fell by $249 million, RBI data showed on Friday

Foreign exchange reserves decline by $290 million to $580.84 billion

The country's foreign exchange reserves declined by $290 million to $580.841 billion in the week ended December 25, RBI data showed

Forex reserves rise by $2.56 billion to record $581.131 billion

The country's foreign exchange reserves surged by $2.563 billion to touch a record high of $581.131 billion in the week to December 18

RBI announces OMO purchase of Rs 10,000-cr govt dated securities

The government securities will be purchased through a multi-security auction using the multiple price method

India's forex reserves rise $503.6 mn to record high of $424.864 bn

The foreign currency assets, a major component of the overall reserves, rose by USD 657.7 million to USD 399.776 billion