During the week, gold reserves decreased by $200 million to $26.709 billion.
The country's forex reserves jumped by $6.70 billion to $315.72 billion on the back of sharp increase in the foreign currency assets, the Reserve Bank of India said on Friday.
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.
India's forex kitty jumped $5.929 billion to $595.07 billion for the week ended June 2, the Reserve Bank said on Friday. The reserves had dropped for two consecutive weeks and declined by $4.34 billion to $589.14 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.
The country's reserves surged by $1.432 billion to $316.311 billion in the week to November 28 due to rise in foreign currency assets, RBI data showed on Friday.
The measures announced by it risk backfiring, disrupting the foreign exchange market, and intensifying the very pressures they seek to contain, with broader consequences for the economy points out Rajeswari Sengupta.
The unearthing of capital flight of "black" money Indians have allegedly stashed away in Swiss banks could add $30 billion to the country's forex reserves, says a Bank of America Merrill Lynch report.
India's gold reserves and special drawing rights in the week remained unchanged at $9.746 billion and $1 million respectively, the central bank said.
In the steepest weekly fall ever, India's forex reserves slid by $11.17 billion to $606.47 billion as the currency came under pressure due to geopolitical developments, according to the Reserve Bank data released on Friday. For the previous reporting week ended March 25, the overall reserves had slid by $2.03 billion to $617.65 billion. The steep fall in the reserves was because of a decline in the core currency assets, which fell by $10.73 billion to $539.73 billion.
The Reserve Bank on Tuesday proposed greater flexibility to authorised persons to undertake foreign exchange transactions for hedging their exposures, balance sheet management and market-making, as well as to ease reporting obligations, after a review of the current regulations.
The three-year tenure of Raghuram Rajan saw the RBI adding a net of $92 billion to the kitty.
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 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 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.
The forex reserves stood at $144.375 billion, a rise of $1.738 billion, during the week under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
For the week under review, foreign currency assets, which are the biggest parts of the reserves, increased by $1.642 billion to $410.453 billion.
The country's forex reserves rose by $419.4 million to $315.551 billion in the week to November 14, driven by a rise in foreign currency assets.
The foreign currency assets increased by $1.808 billion to stand at $224.870 billion as against $223.062 billion in the previous week, the Reserve Bank data stated.
Jindal Steel has successfully deployed syngas in its galvanising and colour coating line furnaces to combat shortages of natural gas, LPG, and propane. This innovative approach allows the company to sustain operations and promotes energy self-reliance.
Indian foreign exchange reserves rose by $1.8 billion in the week ended June 20, 2008, to $312.48 billion. The increase in reserves was basically due to a hike in foreign currency assets, which grew by $1.78 billion to $302.74 billion, according to the Reserve Bank of India's weekly statistical supplement released.
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.
India's foreign exchange reserves rose by $1.7 billion during the week ended September 2, 2005.
India's forex reserves went up by $75 million to stand at $175.519 billion during the week ended December 15 as against $175.444 billion during the week ended December 8.
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.
Hit by the revaluation of international currencies, India's foreign exchange reserves dipped by a massive $1.16 billion for the week ended June 3, 2005.
India's forex reserves increased by $940 million to stand at $166.482 billion during the week ended September 22 from $165.542 billion during the week ended September 15.
India's forex reserves increased by $ 2.07 billion to stand at $157.262 billion during the week-ended April 21, 2006, as against $155.196 billion during the week ended April 14, 2006.
After a dream run of almost one month, India's forex reserves dipped by $ 224 million to stand at $194.410 billion during the week ended March 9 as against $194.634 billion during the week ended March 2.
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.
India's forex reserves declined by $4 million to stand at $142.17 billion during the week ended November 25 against $142.18 billion during the preceding week.
India's foreign exchange reserves fell for the third week in a row by $544 million for the week ended July eight, 2005.
India's foreign exchange reserves can best be used to invest in certain key infrastructure areas like road and power.
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 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.
The country's foreign exchange reserves rose by $21.1 million to $280.19 billion, the Reserve Bank said.
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.
The country's foreign exchange reserves dipped by $0.985 billion to $279.20 billion, the Reserve Bank said on Friday.
The Indian rupee weakened against the US dollar due to geopolitical tensions surrounding the Strait of Hormuz and ahead of the Reserve Bank of India's monetary policy review.
Gold reserves were up by $712 million to $34.729 billion.
The country's forex reserves increased by $305 million to $654.27 billion during the week ended March 14, the RBI said on Friday. In the previous reporting week, the overall reserves rose by $15.27 billion to $653.97 billion and registered the sharpest weekly rise in two years.
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