India's forex exchange reserves increased by $289 million to $640.401 billion for the week ended November 19, the Reserve Bank said on Friday. The overall reserves had declined by $763 million to $640.11 billion in the previous reporting week. They had touched a life time high of $642.45 billion in the week ended September 3, 2021.
Supporting the industry ministry's proposal to set up a sovereign wealth fund to finance infrastructure projects, Chief Economic Adviser Kaushik Basu on Monday said India can use a part of its large foreign exchange reserves to create the fund.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
Last week, the forex reserves had surged by $2.374 billion to $363.171 billion.
Foreign currency assets were down $1.516 billion to $131.426 billion. While gold reserves increased $77 million to $4.453 billion, SDRs were unchanged at $4 million.
Country's foreign exchange reserves declined sharply by $3.433 billion to $351.920 billion.
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
Continuing their upward march due to fresh inflows, India's foreign exchange reserves have further surged ahead by $711 million at $75.751 billion during the week ended April 11.
India's foreign exchange reserves surged ahead in the first week of the new fiscal following fresh accretion of over $1 billion to move past the record levels of $112 billion during the week ended April 2, 2004.
India's foreign exchange reserves surged by $1.26 billion to $292.33 billion in the week ended February 7 on the back of a healthy increase in the currency assets, the Reserve Bank said.
India's foreign exchange reserves declined by a huge $2.23 billion to $275.49 billion on a sharp dip in the foreign currency assets, the Reserve Bank said on Friday.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
After falling for two consecutive weeks, foreign exchange reserves marginally rose to $319.39 billion, up by $43.3 million, for the week, driven by an increase in foreign currency assets.
The gold reserves remained unchanged at $18.151 billion.
t might not have been advisable to use the over $250 billion forex reserves to pump in the economy earlier when India had high inflation, but now with deflationary trends, the government should use it to remove infrastructure deficits. India's foreign exchange reserves stood at $249.278 billion during the week ended February 27.
Foreign exchange reserves have hit a fresh high.
The reserves had dipped by $1.12 billion in the previous reporting week.
The Union Budget is likely to adopt a three-pronged strategy to bring about the second green revolution in agriculture and evolve methods to tap the $119 billion foreign exchange reserves to boost investment.
India's foreign exchange reserves shot up by $960.2 million to $280.17 billion on the back of a healthy rise in currency assets in the week ended July 26, Reserve Bank said.
FCAs decreased by $3.56 billion to $325.03 billion.
India's forex reserves increased by $3.034 billion to $576.76 billion as of January 27, making it the third consecutive week of a jump in the kitty. The overall reserves had risen by $1.727 billion to $573.727 billion 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 foreign exchange reserves showed a dip for the first time in several weeks after the government repaid $3.04 billion of loans in advance to multilateral agencies in the last week of February.
India's foreign exchange reserves rose by a healthy $1.51 billion to touch $279.240 billion in the week to October 11 on account of growth in a key component of the assets, the Reserve Bank said.
China is also the largest owner of the US Treasury securities.
The highlights of the RBI's fourth monetary policy review of fiscal year 2022-23 announced by Governor Shaktikanta Das.
The foreign exchange reserves rose for the fourth consecutive week with the week to October 25 adding another $1.828 billion taking the overall forex kitty to $282.95 billion, the Reserve Bank said on Friday.
The country's foreign exchange reserves rose by $1.434 billion in the week ended August 9, after dropping by $2.99 billion previous week, the Reserve Bank of India said.
The Institute of Economic Growth has forecast a depletion in the foreign exchange reserves to $79 billion in August mainly due to over $4 billion dollar payout of Resurgent India Bonds.
India has moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24, sources said on Friday. This is one of the biggest movements of gold undertaken by the country since 1991, when pledging a substantial part of the gold holding to tide over a foreign exchange crisis resulted in its movement out of vaults. The country's overall gold holding increased 27.46 metric tonnes in FY24 and it stands at 822 metric tonnes, as per official data.
Amid the rupee declining against the US dollar, Finance Minister Nirmala Sitharaman on Thursday said the Indian currency is relatively better placed than other global currencies against the greenback. Emerging market currencies have been falling against the dollar amid geopolitical tensions in the wake of the Russia-Ukraine war, concerns over growth, high global crude prices, sustained inflation and central banks worldwide adopting hawkish monetary policy approach. "We are relatively better placed. We are not a closed economy. We are part of the globalised world.
Foreign currency assets, a major component of the overall reserves, declined by $3.208 billion to $395.276 billion.
After an extremely stable 2023, the Indian rupee started 2024 on a promising note and has turned out to be the best-performing Asian currency so far in January, appreciating 0.1 per cent despite 2 per cent rise in the dollar index. All other Asian currencies depreciated by around 1.4-4 per cent during the month. The local currency regained its ground against the greenback on the back of foreign portfolio inflows, said market participants.
The Reserve Bank of India's (RBI's) outstanding net forward purchases of US dollars fell by more than 50 per cent from the last quarter of FY22 to $30.86 billion in the June quarter (Q1). The net forwards position was at $65.79 billion at the end of the last fiscal year. The purchases fell by $18.33 billion in June as the central bank intervened in both the forwards and the spot market in order to protect the rupee from excessive depreciation in the face of a widening trade deficit.
The central bank may be permitted to lend to the oil companies through authorised dealers in foreign exchange at a cheaper rate of say 4.5-5 per cent. The oil companies can meet their import payment commitments in the foreign currency borrowed from RBI.
India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.
India's foreign exchange reserves strengthened by $544.7 million to $275.35 billion on a healthy increase in the core currency assets in the week ended September 13.
The reserves growth picked up speed in the second quarter, with $178 billion added, ending the decline in the first two months when monthly exports tumbled to near a decade low, the apex bank, People's Bank of China said on Wednesday. China's huge stockpiles, which expanded by 17.84 per cent in the first half year on year, are more than double those of Japan, the second largest holding $1.02 trillion.
India's forex reserves increased by $1.78 billion to $573.78 billion in the week ended January 20, the Reserve Bank of India said on Friday. This is the second consecutive week of a rise in the kitty after the $10.42 billion jump to $572 billion during the preceding week. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
In the wake of the Chinese war, it was felt in some circles that it would be feasible to make a frontal attack on demand for gold in India. Accordingly, the Gold Control Order 1962 was issued, banning the making and selling of jewellery above 14 carats, making it compulsory for gold smiths to be licensed and submit accounts of all gold received and utilized by them etc., The measures met with lot of resistance and criticism.
Country's foreign exchange reserves dropped by $2.063 billion to $ 335.729 billion in the week to March 13.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances