Forex

Domestic, global headwinds challenge RBI's forex intervention efforts

India's forex reserves are at a five-month low after the RBI sold $38 billion, per IDFC FIRST Bank's estimate, between October and the first week of December

Forex reserves drop by $3.23 bn to $654.85 bn for week ended on Dec 6

India's forex reserves dropped by USD 3.235 billion to USD 654.857 billion for the week ended December 6, the RBI said on Friday. In the previous reporting week, the reserves had increased by USD 1.51 billion to USD 658.091 billion, ending a multi-week decline in the overall kitty. The forex reserves had increased to an all-time high of USD 704.885 billion in end-September. For the week ended December 6, foreign currency assets, a major component of the reserves, decreased by USD 3.228 billion to USD 565.623 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves decreased by USD 43 million to USD 66.936 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 25 million to USD 18.031 billion, the apex bank said. India's reserve position with the IMF was also

Forex reserves up $1.51 bn to $658.091 bn; end consecutive weeks of decline

India's forex reserves increased by USD 1.51 billion to USD 658.091 billion for the week ended November 29, the RBI said on Friday. The overall reserves had dropped by USD 1.31 billion to USD 656.582 billion in the previous reporting week. The kitty has witnessed a declining trend in the recent past and had dropped by a record USD 17.761 billion in the week prior to the last. The forex reserves had increased to an all-time high of USD 704.885 billion in end-September. For the week ended November 29, foreign currency assets, a major component of the reserves, increased by USD 2.061 billion to USD 568.852 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves decreased by USD 595 billion to USD 66.979 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 22

Forex reserves drop $1.31 bn to $656.5 bn as of November 22, says RBI

India's forex reserves dropped USD 1.31 billion to USD 656.582 billion for the week ended November 22, the Reserve Bank of India (RBI) said. The kitty had dropped a record USD 17.761 billion to USD 657.892 billion in the previous reporting week ending November 15. The reserves, which had hit an all-time high of USD 704.885 billion in end-September, have been declining for multiple weeks, at a time when the rupee has also been under pressure. For the week ended November 22, foreign currency assets -- a major component of the reserves -- decreased USD 3.043 billion to USD 566.791 billion, the data, which was released on Friday, showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. Gold reserves increased USD 1.828 billion to USD 67.573 billion during the week, the RBI said. The special drawing rights (SDRs) were down USD 79 million to USD

Forex reserves see sharpest weekly drop on record, hit over four-month low

The reserves fell by $17.8 billion in the week of Nov. 15 - the most since available data starting 1998 - to $657.89 billion, data from the Reserve Bank of India (RBI) showed on Friday

Forex reserves decline $6.47 bn in a week to $675.65 bn, shows data

India's forex reserves dropped by USD 6.477 billion to USD 675.653 billion for the week ended November 8, the RBI said on Friday. In the previous reporting week, the forex reserves had dropped by USD 2.675 billion to USD 682.13 billion. The kitty, which had hit an all-time high of USD 704.885 billion in end-September, has been declining for multiple weeks. For the week ended November 8, foreign currency assets, a major component of the reserves, decreased by USD 4.467 billion to USD 585.383 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves decreased by USD 1.936 billion to USD 67.814 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 60 million to USD 18.159 billion, the apex bank said. India's reserve position with the IMF was also down by USD

RBI includes spot deals to expand forex transactions reporting requirements

The Reserve Bank on Friday said it has decided to expand the reporting requirement of forex transactions and include foreign exchange spot deals to ensure completeness of transaction data in the trade repository (TR) of the Clearing Corporation of India. Currently, authorised dealers report all over-the-counter (OTC) foreign exchange derivative contracts and foreign currency interest rate derivative contracts undertaken by them directly or through their overseas entities to the TR of Clearing Corporation of India Limited (CCIL). "To ensure completeness of transaction data in TR for all foreign exchange instruments, it has been decided to expand the reporting requirement to include foreign exchange spot (including value cash and value TOM) deals in a phased manner," the Reserve Bank of India (RBI) said in a circular. Accordingly, transactions in foreign exchange cash; foreign exchange tom; and foreign exchange spot, involving the rupee or otherwise shall now be reported to the TR, it

Forex reserves slide for fifth week to more than 2-month low at $682 bn

Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves

Rupee down 2 paise at all-time low of 84.13 against US dollar on FDI exodus

The rupee fell 2 paise to an all-time low of 84.13 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and a muted trend in domestic equities dented investor sentiments. Forex traders said all eyes are on the US as it decides its next President. Markets are bracing for potential volatility over the coming days, especially with the Federal Reserve's monetary policy announcement also scheduled this week. At the interbank foreign exchange, the rupee opened at 84.13 against the greenback, registering a fall of 2 paise over its previous close. On Monday, the rupee fell 4 paise to settle at a record low level of 84.11 against the US dollar. The rupee closed at an all-time low on Monday and opened at a new low of 84.13 as US elections rattled stock markets amid persistent foreign fund outflows, said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "The Reserve Bank of India (RBI) was present to absorb the fall

Forex reserves drop by $3.463 billion to $684.805 billion, shows RBI data

India's forex reserves dropped by USD 3.463 billion to USD 684.805 billion in the week ended October 25, the RBI said on Friday. The overall reserves had dropped by USD 2.163 billion to USD 688.267 billion in the previous reporting week. In end-September, the reserves had hit an all time high of USD 704.885 billion. For the week ended October 25, foreign currency assets, a major component of the reserves, decreased by USD 4.484 billion to USD 593.751 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 1.082 billion to USD 68.527 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 52 million to USD 18.219 billion, the apex bank said. India's reserve position with the IMF was down by USD 9 million to USD 4.307 billion in the reportin

India's foreign exchange reserves drop $2.16 bn to $688.26 bn: Govt data

India's forex reserves dropped by USD 2.163 billion to USD 688.267 billion for the week ended October 18, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had dropped by USD 10.746 billion to USD 690.43 billion in one of the largest declines in the reserves in recent times, the RBI said on Friday. In the preceding week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion. At the end of September, the reserves had hit an all-time high of USD 704.885 billion. For the week ended October 18, foreign currency assets, a major component of the reserves, decreased by USD 3.865 billion to USD 598.236 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 1.786 million to USD 67.444 billion during the week, the RBI said. The Special

RBI adds 13 more entities in 'alert list' of unauthorised forex trading

The Reserve Bank on Tuesday updated the 'Alert List' of unauthorised forex trading platforms by adding 13 more entities, including TDFX and Inefex, taking the total to 88. The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. Some entities in the list are Ranger Capital, TDFX, Inefex, YorkerFX, Growline, Think Markets, Smart Prop Trader, FundedNext, Weltrade, FreshForex, FX Road, DBG Markets, and Plusonetrade. RBI said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services. This list is not exhaustive, it added. Further, an entity not appearing in the list sh

RBI sold $6.49 billion in spot forex market in August, shows bulletin

The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August

India's forex reserves fall by $10.75 billion to $690.43 billion

Declining for the second straight week, India's forex reserves dropped USD 10.746 billion to USD 690.43 billion for the week ended October 11 in one of the largest decreases in the kitty in recent times, the RBI said on Friday. In the previous reporting week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion. At the end of September, the reserves had hit an all-time high of USD 704.885 billion. For the week ended October 11, foreign currency assets, a major component of the reserves, decreased by USD 10.542 billion to USD 602.101 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves decreased by USD 98 million to USD 65.658 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 86 million to USD 18.339 billion, the apex bank said. Ind

Forex reserves top $700 bn, India becomes 4th country to cross this mark

India is only the fourth economy in the world to cross $700 billion in reserves after China, Japan, and Switzerland

Forex reserves advance for 6th week to hit record high of $692.3 billion

The reserves rose by $2.84 billion in the reporting week, after having risen by a total of $19.3 billion in the prior five weeks

Inbound tourists trail pandemic levels, but forex earnings up: Report

Inbound tourism in the country is trailing the pandemic levels as foreign tourist arrivals (FTAs) in January-June this year stood at 4.78 million, which is about 90 per cent of the first half of 2019, a report said on Wednesday. However, forex earnings are up indicating that per person arrival spending is more, according to a report by Crisil Market Intelligence and Analytics. The report said that the post-pandemic recovery in India's inbound tourism is lagging the global trend as in the first half of calendar 2024, FTAs in the country stood at 4.78 million, about 90 per cent of that in the first half of calendar 2019. In comparison, globally, FTAs in the first seven months of 2024 were at 96 per cent of the pre-Covid levels of 2019, implying India is behind the curve, it added. The report stated that reduced demand from Bangladesh on account of the current political scenario there and suspension of direct flights from China impacting tourist footfalls. Both these countries were a

RBI bought net $6.93 billion in spot forex market in July: Bulletin data

RBI's net outstanding forward sales stood at $9.1 billion as of end-July, compared with a net sales of $15.84 billion at the end of the previous month, the data showed

India's forex exchange reserves expanded by $66 bn in 2024, at record high

Country has had the highest percentage growth in its reserves in 2024

India's forex reserves rise $5.25 billion to new peak of $689.24 billion

India's forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday. The overall kitty had jumped by USD 2.299 billion to a record USD 683.987 billion for the previous reporting week. For the week ended September 6, foreign currency assets, a major component of the reserves, increased by USD 5.107 billion to USD 604.144 billion, the data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 129 million to USD 61.988 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 4 million to USD 18.472 billion, the apex bank said. India's reserve position with the IMF was up by USD 9 million to USD 4.631 billion in the reporting week, the apex bank data showed.