The country's foreign exchange reserves soared by $16.663 billion to touch a lifetime high of $633.56 billion in the week ended August 27, mainly due to an increase in Special Drawing Rights (SDR) holdings, RBI data showed. On Wednesday, RBI had said the International Monetary Fund (IMF) made an allocation of SDR 12.57 billion (equivalent to around $17.86 billion at the latest exchange rate) to India on August 23, 2021. SDR holdings are part of the foreign exchange reserves of a country.
India's foreign exchange reserves gained a record $828 million to $67.753 billion during the week ending December 6, 2002.
The surge in India's foreign exchange reserves continued with a further rise of $611 million to cross $118 billion for the week ended April 30.
The Reserve Bank of India is not in favour of limiting the build-up of foreign exchange reserves, now at over $93 billion, as the country would require them for higher economic growth, Usha Thorat, executive director at the central bank, said.
Foreign exchange reserves climbed further by $ 402 million to a new record high of $109.998 billion during the week ended March 19 from $109.596 billion a week ago.
Sliding from a lifetime high, India's forex reserves declined by $4.148 billion to reach $603.933 billion for the week ended June 18 due to a fall in gold and currency assets, RBI data showed on Friday. The forex kitty had surged by $3.074 billion to a record high of $608.081 billion in the previous reporting week. The foreign currency assets (FCA), a major component of the overall reserves, declined by $1.918 billion to $561.540 billion for the reporting week, as per data by the Reserve Bank of India (RBI).
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
The country's foreign exchange reserves continued to surge ahead and for the third week in a row crossed the $1.5 billion mark.
India's foreign exchange reserves surged $5.04 billion in the week ending March 28, its biggest weekly rise in four months, as the central bank started to buy dollars regularly in an effort to build up its defences against any potential global turmoil.
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In the previous week, total reserves increased by $950.9 million to $313.536 billion.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Reserve Bank Governor Shaktikanta Das on Monday said with the country's foreign exchange reserves at $677 billion, it is comfortably placed to deal with any spillover effects and for financing of the current account deficit. Over the last three years, the country's foreign exchange reserves have surged by $270 billion. He said as per the latest data, the foreign exchange reserves are $622 billion.
The reserves have been surging by over $3 billion for the last two consecutive weeks. The forex reserves stood at $288.316 billion, up by $3.418 billion a week before.
The country's foreign exchange reserves rose by $835 million to touch a record high of $612.73 billion in the week ended July 16, 2021, RBI data showed. In the previous week ended July 9, 2021, the reserves had surged by $1.883 billion to $611.895 billion. In the reporting week ended July 16, 2021, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), Reserve Bank of India's (RBI) weekly data released on Friday showed.
The rupee declined 31 paise to settle at 90.65 against the US dollar on Friday, weighed down by geopolitical uncertainties over the US-Iran talks, and a sharp rise in global crude oil prices.
The reserves nearing $ 428 billion can take care of imports for almost 10 months, according to market experts.
The forex reserves rose for the third consecutive week, surging by a robust $2.691 billion to $286.26 billion on a healthy jump in foreign currency assets, the Reserve Bank said.
The three-year tenure of Raghuram Rajan saw the RBI adding a net of $92 billion to the kitty.
The country's foreign exchange reserves jumped by a massive $7.779 billion to touch a lifetime high of $568.494 billion in the week ended November 6, RBI data showed on Friday. In the previous week ended October 30, the reserves had increased by $183 million to $560.715 billion. In the reporting week, the jump in reserves was mainly on account of an increase in foreign current assets (FCAs), a major component of the overall reserves.
The value of the gold reserves increased $78.2 million to $22.764 billion
The rupee witnessed a volatile trading session and settled for the day on a slightly lower note, down 1 paisa at 90.66 against the US dollar on Monday, as traders assessed the details of the India-US interim trade framework.
The Indian rupee experienced a significant surge against the US dollar following the Reserve Bank of India's measures to restrict banks from onshore forward markets. Despite this, the rupee remains under pressure from foreign capital outflows, a strong dollar, and rising crude oil prices.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
India's foreign exchange reserves surged by $980 million to cross $120 billion mark during the week ending October 22, 2004.
India's foreign exchange reserves surged ahead and crossed $68 billion due to inflows of continuous export remittances and revaluation of Euro vis-a-vis the US dollar.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
The Indian rupee weakened to a record intra-day low against the US dollar due to a strengthening greenback, continuous foreign capital outflows, and elevated global crude oil prices amidst the West Asia conflict.
The country's foreign exchange reserves increased by $1.883 billion to touch a record high of $611.895 billion in the week ended July 9, RBI data showed on Friday. In the previous week ended July 2, the reserves had surged by $1.013 billion to $610.012 billion. In the reporting week ended July 9, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data showed.
India's foreign exchange reserves surged ahead by $698 million to race past the $96 billion mark for the week ended November 28, inching towards the $100 billion figure.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
Foreign currency assets, a major component of the overall reserves, fell by $490 million to $441.458 billion in the reporting week.
The rupee appreciated 53 paise to close at 89.67 against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices. Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
India's foreign exchange reserves surged ahead by $772 million to touch record levels of $109.13 billion even as gold reserves declined by $99 million for the week ended March 5.
The country's foreign exchange reserves surged ahead and during the week under review rose to $92,598 million from $91,892 million a week ago, according to Reserve Bank of India 's weekly statistical supplement released here on Saturday.
India's foreign exchange reserves surged by $685 million to touch $108.36 billion following fresh inflows and revaluation of the United States currency vis-a-vis other currencies for the week ended February 27.
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