The foreign exchange reserves slipped by a hefty $1.59 billion to $294.99 billion on the back of heavy decline in gold reserves and the core currency assets, the Reserve Bank said on Friday.
India's foreign exchange reserves declined by $249 million to $249.27 billion for the week ended February 27, 2008 on revaluation of global currencies like the euro and pound sterling against the US dollar, and liquidation of Indian investments by foreign investors.Foreign currency assets declined by $1.10 billion to $238.71 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India.
India's foreign exchange reserves grew by $297 million to $141.20 billion for the week ended April one 2005,
India's foreign exchange reserves declined for the second consecutive week to $295.50 billion, down $12.6 million, in the week ended December 20, the Reserve Bank said.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
Back in March this year, when the Reserve Bank of India stepped in with a cap of 60 per cent on the loan-to-value ratio for gold loan non-banking financial companies, it said it was acting to pre-empt systemic risks and to safeguard public funds.
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from $65,877 per kg in January 2024 to $86,464 per kg in January 2025.
India's forex reserves dropped by $346 million to stand at $228.996 billion for the week ended August 10.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
In the reporting week, foreign currency assets, which are a major component of the overall reserves, reduced by $ 633 million to $ 398.724 billion.
Foreign exchange reserves declined $793 million to $162.962 billion for the week ended May 19, according to the weekly supplement released by RBI on Friday.
India's gold reserves were also up by $297.7 million to $19.33 billion
Foreign exchange reserves zoomed $3.062 billion to $140.60 billion for the week ended July 29, 2005
India's foreign exchange reserves continued to rise to record levels with fresh inflows of $588 million to touch $77.598 billion during the week ended May 2.
The country's foreign exchange reserves rose by $1.73 billion for the week ended October 31 to $315.91 billion, show Reserve Bank of India (RBI) data released on Friday, marking one of the sharpest rises ever.
'The Sangh Parivar's position is that whatever gold that is there in a temple should remain there. It shouldn't be taken away by anyone.' 'See, we are not misappropriating anything; we are only using it for the welfare of the temple and the devotees.'
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.
India's foreign exchange reserves declined by $2.599 billion to $293.11 billion in the week ended January 3 on account of a fall in foreign currency assets, RBI said.
The scheme will invest in gold exchange-traded funds of all Sebi-approved mutual funds, along with capital protection.
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.
Foreign exchange reserves declined $1.223 billion to $140.907 billion for the week ended March 25, 2005 when compared with $142.13 billion in the previous week, according to the weekly supplement released by the RBI on Saturday.
India's foreign exchange reserves grew by $700 million to touch $1,20,778 million for the week ended July 9.
Gold reserves declined by $346.2 million.
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
The country's reserve position with the International Monetary Fund also increased by $ 3.6 million to $ 3.344 billion.
The reserves had dropped by $1.434 billion to $348.934 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.
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
The total foreign exchange reserves had increased by $1.838 billion to $297.28 billion in the previous reporting week.
Foreign exchange reserves dipped marginally by $237.5 million to $355.221 billion in the week to June 26.
India's foreign exchange reserves fell further by $430 million at $118.89 billion during the week ended August 20 after witnessing a marginal dip of $14 million a week earlier.
India's foreign exchange reserves fell by $14 million during the week ended August 13 after witnessing a rise of $1.01 billion a week earlier.
India's foreign exchange reserves grew by $291 million during the week ending January 28, 2005 to touch $1,29,720 million.
India's foreign exchange reserves have dropped by a massive $1.649 billion to $314.661 billion in the week to December 5, led by a fall in foreign currency assets.
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.
India's forex reserves dropped by $1.32 billion to $593.75 billion for the week ended June 9, the Reserve Bank of India said on Friday. The overall reserves had jumped by $5.93 billion to $595.07 billion for 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 shot up for a third week in a row, adding a healthy $1.9 billion to touch $281.12 billion in the week to October 18 on account of growth in a key component, the Reserve Bank said.
The foreign exchange reserves of the country moved up further by $337 million to a new record high of $66,925 million during the week ended November 29.\n\n\n\n
