India's forex reserves jumped by $7.02 billion to touch a new high of $681.69 billion in the week ended August 23, the RBI said on Friday. The overall reserves had jumped by $4.55 billion to $674.66 billion in the previous reporting week. The previous all-time high for the overall reserves was recorded at $674.92 billion as on August 2.
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.
Bolstered by heavy inflows, India's foreign exchange reserves rose by $515 million, crossing the $119 billion mark.
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 and Canada are negotiating a long-term uranium supply agreement worth $2.8 billion. They are also exploring expanded civil nuclear cooperation after the passage of the SHANTI Bill.
Eternal was the biggest gainer in the Sensex pack, jumping 4.50 per cent, followed by Power Grid, ICICI Bank, Reliance Industries, UltraTech Cement, Adani Ports, Sun Pharma, ITC and Hindustan Unilever were also among the winners. In contrast, IndusInd Bank, Axis Bank, Bajaj Finserv and Bajaj Finance were among the laggards.
The Reserve Bank of India (RBI) abstained from selling any US dollars throughout February, for the first time in nine months. The decision comes amid increasing pressure on the rupee, as expectations of rate cuts by the US Federal Reserve keep pushing back. The last time the RBI did not sell dollar over a month was in May 2023.
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.
India's foreign exchange reserves further rose by $328 million to cross the $121 billion mark for the week ended July 16.
Macroeconomic data announcements, global trends and trading activity of foreign investors would be major driving factors for market movement this week, analysts said. Unabated capital infusion by domestic institutional investors have supported the positive trend in the stock market last week, traders said.
India's foreign exchange reserves touched nearly $133 billion due to record buying by the central bank and revaluation of international currencies.
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
Gold reserves in the reporting week increased by $707 million to $33.52 billion.
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.
RBI holds 557.75 tonnes of gold as part of foreign exchange reserves.
India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII president Rajiv Memani said on Thursday.
Officials from both India and the US in the recent past have indicated that a "fair deal" will be concluded soon, with Indian officials holding that more formal rounds of talks are not needed.
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 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.
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.
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.
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.
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.
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.
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.
Foreign exchange reserves rose by $1.591 billion to touch $80.816 billion in the reporting week.
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.
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.
India's foreign exchange reserves grew marginally by $253 million to $141.45 billion for the week ended April 8, 2005.
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 registering a rise of over $2 billion in the previous week, India's foreign exchange reserves increased by $962 million to cross the $91 billion mark in the week ended October 17.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
India posted a current account surplus of $13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with $4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to RBI data released on Friday.
After having declined for two consecutive weeks, India's foreign exchange reserves grew by $293 million to $282.84 billion compared to earlier week's $282.55-billion.
Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers. Bharti Airtel and Asian Paints emerged as the laggards from the pack.
India's foreign exchange reserves declined by $4.56 billion to $282.79 billion for the week ended August 13, as against $287.35 billion the previous week due to a heavy dent in foreign currency assets.
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.
India's foreign exchange reserves crossed the $93 billion mark following a further rise of $613 million due to fresh inflows for the week ended November 7.
