Page 2 - Forex Reserves

Forex reserves jump $4.3 bn to hit new all-time high of $655.8 bn

India's forex reserves jumped USD 4.307 billion to a new all-time high of USD 655.817 billion for the week ended June 7, the Reserve Bank of India (RBI) on Friday. The kitty had jumped USD 4.837 billion to USD 651.51 billion in the previous reporting week. The previous high for the kitty -- a crucial guard against any disturbances in the external sector -- was USD 648.87 billion on May 10. In the past few weeks, the reserves have witnessed handsome jumps. For the week ended June 7, foreign currency assets, a major component of the reserves, increased by USD 3.773 billion to USD 576.337 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 USD 481 million to USD 56.982 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up USD 43 million to USD 18.161 .

India's foreign exchange reserves hit new peak of $651.5 billion

Governor Das expressed confidence that the central bank was well-positioned to meet the country's external financing requirements comfortably

Forex reserves hit record high of $651.5 bn as of May 31: RBI Governor

Overall, we remain confident of meeting our external financing requirements comfortably, he says

Forex reserves snaps three-week gaining streak, ease from record high

The reserves fell by $2 billion in that week, after rising by a total of $10.8 billion in the previous three weeks

India's forex kitty reaches new high of $648.7 bn after $4.55 bn jump

India's forex reserves jumped USD 4.549 billion to a new all-time high of USD 648.7 billion for the week ended May 17, the Reserve Bank said on Friday. This is the third consecutive week of increase in the overall kitty, which had increased by USD 2.561 billion to USD 644.151 billion in the previous reporting week ended May 17. For the week ended April 5, the reserves had hit an all time high of USD 648.562 billion following multiple weeks of increases. In the week ended May 10, foreign currency assets -- a major component of the reserves -- increased USD 3.361 billion to USD 569.009 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 USD 1.244 billion to USD 57.195 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up USD 113 million to USD 18.168

India sees forex reserves as main tool to manage bond index inflows

The Reserve Bank of India plans to absorb the inflows and match the outflows using its near-record high $642 billion reserves

Forex reserves jump by $3.66 billion to $641.59 billion, shows RBI data

After three consecutive weeks of drop, India's forex reserves increased by USD 3.668 billion to USD 641.59 billion for the week ended May 3, the RBI said on Friday. The overall kitty dropped USD 2.412 billion to USD 637.922 billion for the previous week ended April 26. For the week ended April 5, the reserves had hit an all-time high of USD 648.562 billion, following multiple weeks of increases after breaching the previous high of September 2021 in March this year. For the week ended May 3, the foreign currency assets, a major component of the reserves, increased by USD 4.459 billion to USD 564.161 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 653 million to USD 54.88 billion during the week, the Reserve Bank of India said. The Special Drawing Rights (SDRs) were u

Forex reserves drop $2.4 bn to $637.9 bn in 3rd consecutive week of decline

India's forex reserves dropped USD 2.412 billion to USD 637.922 billion as on April 26, in the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had declined USD 2.28 billion to USD 640.33 billion. For the week ended April 5, the reserves had hit an all-time high of USD 648.562 billion following multiple weeks of increases. The earlier high of USD 642.453 billion achieved in September 2021 got surpassed in March this year. For the week ended April 26, the foreign currency assets -- a major component of the reserves -- decreased USD 1.159 billion to USD 559.701 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 USD 1.275 billion to USD 55.533 billion during the week, the RBI ..

Forex reserves come of record highs as 7-week gaining streak ends

The reserves fell by $5.4 billion in the reporting week, the steepest fall in over three months. They had risen by a total of $32.5 billion in the prior seven weeks

Forex reserves jump $2.98 billion to new peak of $648.562 billion: RBI

India's forex reserves jumped by USD 2.98 billion to a fresh peak of USD 648.562 billion for the week ended April 5, the RBI said on Friday. In the previous reporting week, the forex kitty had increased by USD 2.951 billion to USD 645.583 billion, which was an all-time high. In September 2021, the country's forex kitty reached an all-time high of USD 642.453 billion, a level that was breached in March this year. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global events, but there has been a steady accretion over the past few months. For the week ended April 5, the foreign currency assets, a major component of the reserves, increased by USD 549 million to USD 571.166 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 reserve

India's forex kitty jumps $2.95 bn to new all-time high of $645.58 bn

India's foreign exchange reserves increased USD 2.951 billion to USD 645.583 billion for the week ended March 29, the Reserve Bank of India (RBI) said on Friday. This is the sixth consecutive week of a jump in overall reserves. The kitty had increased USD 140 million to USD 642.631 billion in the previous reporting week. The country's forex kitty had in September 2021 reached an all-time high of USD 642.453 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 29, the foreign currency assets, a major component of the reserves, increased USD 2.354 billion to USD 570.618 billion, 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 USD 673 million to USD 52.16 .

India building up gold reserves as part of forex deployment: RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday said India has been building up gold reserves as part of its forex deployment. "We are building up gold reserves that is a part of our reserve deployment," Das told reporters at the customary post-policy review press conference here. He did not give any specifics on the quantum of gold buys, but pointed to the official data which shows an increase in the value of gold reserves. As per official data, the value of gold in the forex reserves stood at USD 51.487 billion as on March 22, which is USD 6.287 billion higher than the value as at end-March 2023. As per a recent news report, RBI bought 8.7 tonne of gold in January alone which is the highest in two years. The central bank's gold holdings had touched 812.3 tonne at the end of January from 803.58 tonne in the preceding month, as per the World Gold Council. The price of gold has also seen a rally over the last few months. Earlier in the day, Das announced that the overall forex ..

Amid record forex reserves, rupee hits new closing low of Rs 83.43

RBI intervention not seen; Delivery of $/Re swap boosts reserves

India's forex kitty rises by $6.40 billion to $642.50 billion: RBI data

India's forex reserves increased by USD 6.396 billion to USD 642.492 billion for the week ended March 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by USD 10.47 billion to USD 636.095 billion. In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 15, the foreign currency assets, a major component of the reserves, increased by USD 6.034 billion to USD 568.386 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 425 million to USD 51.14 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 65

India's forex kitty expands $10.47 billion to $636.095 billion: RBI data

India's forex kitty jumped by USD 10.47 billion to USD 636.095 billion for the week ended March 8, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by USD 6.55 billion to USD 625.626 billion. In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 8, the foreign currency assets, a major component of the reserves, increased by USD 8.121 billion to USD 562.352 billion, the Reserve Bank of India (RBI) said. 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 2.299 billion to USD 50.716 billion during the week, the RBI said. The Special Drawing Rights (SDRs) wer

Forex reserves kitty jumps $6.55 billion to $625.63 billion: RBI data

India's forex reserves jumped USD 6.55 billion to USD 625.626 billion for the week ended March 1, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had risen by USD 2.975 billion to USD 619.072 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 1, the foreign currency assets, a major component of the reserves, increased by USD 6.043 billion to USD 554.231 billion, the data said. 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 569 million to USD 48.417 billion during the week, the RBI said. The Special Drawing Rights (SDRs

Forex reserves jump by $2.975 billion to $619 billion, shows govt data

India's forex reserves jumped by USD 2.975 billion to USD 619.072 billion for the week ended February 23, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by USD 1.132 billion to USD 616.097 billion. For the week ending February 23, the foreign currency assets, a major component of the reserves, increased by USD 2.405 billion to USD 548.188 billion. 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 472 million to USD 47.848 088 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 89 million to USD 18.197 billion, the apex bank said. India's reserve position with the IMF was up by USD 9 million to USD 4.839 billion in the reporting week, the apex bank data showed. India's forex reserves hit an all-time high of USD 645 billion in

India's forex reserves decline $5.24 bn to $617.23 bn, shows RBI data

India's forex reserves declined USD 5.24 billion to USD 617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at USD 622.5 billion for the week ended February 2. However, in the current fiscal, the forex reserves have increased USD 50.28 billion, the RBI data showed. Foreign currency assets, which constitute the largest component of the reserves, dropped USD 4.07 billion to USD 546.52 billion during the week under review, as per the latest data. The reserves had peaked in October 2021, when kitty had reached USD 645 billion. The reserves took a hit as the central bank sold dollars to defend the rupee amid pressures caused majorly by global developments since last year. As a result, the rupee has been the best Asian currency so far this fiscal. The sharp fall in the overall reserves was due to a sharp decline in foreign currency assets, which are the single largest component of the ...

Foreign exchange reserves snaps two-week gaining streak, shows RBI data

The reserves fell by $5.27 billion in the reporting week, their steepest fall in a month, after having risen by a total of $6.36 billion in the prior two weeks

Forex reserves increase $591 million to $616.7 billion, shows RBI data

India's forex reserves increased USD 591 million to USD 616.733 billion for the week ended January 26, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had dropped USD 2.795 billion to USD 616.143 billion. The country's forex kitty had reached an all-time high of USD 645 billion in October 2021. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended January 26, the foreign currency assets, a major component of the reserves, increased USD 289 million to USD 546.144 billion, the data said. 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 269 million to USD 47.481 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up USD 27