India's forex reserves jumped by $816 million to $653.71 billion for the week ended June 21, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by $2.92 billion to $652.89 billion.
Gold reserves were down by $580 million in the reporting week to $37.440 billion.
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 rupee has depreciated 9.7 per cent against the US dollar over a year and with the RBI stemming the rupee's weakness through dollar sales, its reserves have dropped to their lowest levels since October, 2020. The fall in reserves has widespread implications.
Showcasing India as an attractive investment destination, Modi said the country has political and economic stability as well as transparency and predictability in policy decisions.
Gold reserves were down by $331 million to $37.264 billion.
India's forex reserves dropped by $329 million to $578.45 billion for the week ended March 31, on decline in gold reserves, the RBI said on Friday. The forex kitty had risen handsomely in the previous two reporting weeks, and rose by $5.98 billion to $578.78 billion for the week ended March 24. For FY23, the overall kitty has dropped by $28.86 billion.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
India's forex reserves declined by $1.42 billion to $631.53 billion for the week ended in February 25 due to a dip in currency assets, according to the Reserve Bank data released on Friday. The overall reserves had increased by $2.76 billion to $632.95 billion in the previous reporting week. During the reporting week, the foreign currency assets (FCA) declined by $2.23 billion to $564.83 billion.
For the second week in a row, India's foreign exchange reserves fell by a whopping $1.25 billion to $118.31 billion for the week ended July 30.
Among Sensex firms, Bajaj Finance and Bajaj Finserv were the biggest gainers. Asian Paints, Larsen & Toubro, Trent, UltraTech Cement, Eternal and Adani Ports were also among the winners. However, Tata Motors, Infosys, Tech Mahindra and Axis Bank were among the laggards.
The Enforcement Directorate (ED) has seized Rs 1.5 crore in cash from the premises of a chit fund company owned by Gokulam Gopalan, one of the producers of the Malayalam movie "L2: Empuraan", in connection with foreign exchange law violations. The searches were conducted at locations in Kozhikode, Kerala and Chennai, Tamil Nadu. The ED alleged that the company collected subscription to chit funds from persons residing outside India without due permission and violated regulations framed by the Reserve Bank of India (RBI).
Subbarao said the flight of dollar being witnessed following the euro zone crisis is a 'natural reaction' when there is an uncertainty.
Robust trade and overseas investment inflows along with revaluation of currencies propelled India's foreign exchange reserves to rise further by $1.56 billion to cross $125 billion mark during the week ended November 19.
India's forex reserves dropped by $5.681 billion to $561.267 billion for the week ended February 17, the RBI said on Friday. This is the third consecutive week of a drop in the reserves after the $8.319 billion decrease in the previous reporting week to $566.948 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Bolstered by heavy inflows, India's foreign exchange reserves rose by $515 million, crossing the $119 billion mark.
From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers. In contrast, Trent, Eternal, Axis Bank and Titan were among the laggards.
For the week under review, Special Drawing Rights fell by $ 13 million to $4.19 billion, while India's reserve position with the International Monetary Fund was down $3.5 million to $1.14 billion.
India's forex reserves dropped by $8.32 billion to $566.95 billion for the week ended February 10, the RBI said on Friday. This is the second consecutive week of drop in the reserves after the $1.49-billion decrease in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Among Sensex firms, Trent, ICICI Bank, Tech Mahindra, Bajaj Finserv, Mahindra & Mahindra, Power Grid, Tata Consultancy Services and Bajaj Finance were the major laggards. However, Tata Steel, Larsen & Toubro, State Bank of India, Kotak Mahindra Bank were among the major gainers.
India's foreign exchange reserves further rose by $328 million to cross the $121 billion mark for the week ended July 16.
Gold reserves in the reporting week increased by $707 million to $33.52 billion.
India's foreign exchange reserves touched nearly $133 billion due to record buying by the central bank and revaluation of international currencies.
India's forex reserves zoomed by $10.42 billion to $572 billion as on January 13, making it one of the biggest weekly jumps in the kitty in recent times. In the previous reporting week, the overall reserves had dropped by $1.268 billion to $561.58 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
The foreign exchange reserves during the week ending February 14 rose by $616 million mainly due to foreign investments and export remittances at $75,283 million, according to Reserve Bank of India
RBI holds 557.75 tonnes of gold as part of foreign exchange reserves.
After witnessing a decline in the previous week, India's foreign exchange reserves grew by $671 million to cross the $120-billion mark for the week ended July 2.
The rupee has remained largely stable against the US greenback in the current calendar year (CY 2024), depreciating by just 0.59 per cent so far. However, it has considerably weakened against the euro and pound. The local currency has depreciated by 1.6 per cent against the euro and 5.6 per cent against the pound, as both currencies strengthened against the dollar during this period.
The country's foreign exchange reserves surged by $5.271 billion to touch a record high of $598.165 billion in the week ended May 28, RBI data showed on Friday. In the previous week ended May 21, 2021, the reserves had increased by $2.865 billion to $592.894 billion. While announcing the second bi-monthly monetary policy review earlier on Friday, RBI Governor Shaktikanta Das said the country's forex reserves may have crossed $600 billion currently.
After declining for two consecutive weeks, the country's foreign exchange reserves jumped by $2.294 billion to $316.801 billion on the back of healthy rise in foreign currency assets last week.
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
The country's foreign exchange reserves increased by $749 million at $82.421 billion in the period under review, according to the Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.
India's foreign exchange reserves continued to scale new heights and crossed the $78-billion mark following record inflows during the week ending May 9.
The foreign exchange reserves stood at $73.205 billion in the week under review, according to Reserve Bank of India's weekly statistical supplement released
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.
After recording a drop in the previous week, India's foreign exchange reserves went up by over $1 billion to cross the $104-billion mark for the week ended January 23.
In one of the largest inflows in recent times, India's foreign exchange reserves have shot up by $1.11 billion to cross the $87 billion mark, a new record high, for the week ended September 5.
India's foreign exchange reserves fell $9.94 billion during the week ending October 10, 2008 to $274 billion mainly because the Reserve Bank of India continued to sell dollars to check the steep depreciation of the rupee.
Foreign exchange reserves rose by $1.591 billion to touch $80.816 billion in the reporting week.
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