Image used for representation purpose only.
| Photo Credit: Getty Images/iStockphoto

 The overall kitty had increased by $4.368 billion to $693.318 billion in the previous reporting week. File
| Photo Credit: Reuters

Image used for representation purpose only.
| Photo Credit: Getty Images/iStockphoto

Image used for representation purpose only.
| Photo Credit: The Hindu

India’s forex reserves rose $1.05 billion to $630.607 billion for the week ended January 31, the RBI said on Friday (February 7, 2025)

In the previous reporting week, the overall reserves had increased by $5.574 billion to $629.557 billion.

This is the second consecutive week of an increase in the reserves, which have otherwise been on a declining trend for the last few weeks due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee.

The forex reserves had increased to an all-time high of $704.885 billion in end-September 2024.

For the week ended January 31, foreign currency assets, a major component of the reserves, decreased by $ 207 million to $537.684 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $1.242 billion to $70.893 billion during the week, the Reserve Bank of India said.

The Special Drawing Rights (SDRs) were up by $29 million to $17.889 billion, the apex bank said.

India’s reserve position with the IMF was down by $14 million at $4.141 billion in the reporting week, the apex bank data showed.

Photo used for representation purpose only.
| Photo Credit: Getty Images/iStockphoto

India’s forex reserves dropped by $5.693 billion to $634.585 billion in the week ended January 3, the Reserve Bank of India said on Friday (January 10, 2025).

In the previous reporting week, the overall kitty had declined by $4.112 billion to $640.279 billion.

The reserves have been on a declining trend for the last few weeks, and the drop has been attributed to revaluation along with forex market interventions by RBI to help reduce volatility in the rupee. The forex reserves had increased to an all-time high of $704.885 billion in end-September.

For the week ended January 3, foreign currency assets, a major component of the reserves, decreased by $6.441 billion to $545.48 billion, the data released on Friday (January 10, 2025) showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $824 million to $67.092 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $58 million to $17.815 billion, the apex bank said.

India’s reserve position with the IMF was down by $18 million at $4.199 billion in the reporting week, the apex bank data showed.

Photo used for illustration purpose only.
| Photo Credit: Reuters

The country’s forex reserves dropped by a further $8.478 billion to $644.391 billion for the week ended December 20, the RBI said on Friday (December 27, 2024).

In the previous reporting week, the reserves had dropped by $1.988 billion to a six-month low of $652.869 billion.

The reserves have been declining for the last few weeks, and the drop has been attributed to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of $704.885 billion in end-September.

For the week ended December 20, foreign currency assets, a major component of the reserves, decreased by $6.014 billion to $556.562 billion, the data released on Friday (December 27, 2024) showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves decreased by $2.33 billion to $65.726 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $112 million to $17.885 billion, the apex bank said.

India’s reserve position with the IMF was also down by $23 million to $4.217 billion in the reporting week, the central bank data showed.

Image used for representation purpose only.
| Photo Credit: The Hindu

India’s forex reserves dropped by $3.709 billion to $701.176 billion for the week ended October 4, the RBI said on Friday (October 11, 2024).

In the previous reporting week, the reserves had jumped by $12.588 billion to an all-time high of $704.885 billion.

For the week ended October 4, foreign currency assets, a major component of the reserves, decreased by $3.511 billion to $612.643 billion, the data released on Friday showed.

Expressed in terms of dollar, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves decreased by $40 million to $65.756 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $123 million to $18.425 billion, the apex bank said.

India’s reserve position with the IMF was down by $35 million to $4.352 billion in the reporting week, the apex bank data showed.

Rupee notes displayed at a roadside currency exchange stall in New Delhi. File photo
| Photo Credit: REUTERS

The rupee witnessed range-bound trading in initial deals against the US dollar on Monday (August 12, 2024), as market participants remained on the sidelines ahead of the release of key domestic macroeconomic data.

Forex traders said for the USD/INR pair 84.00 level is acting as a psychological resistance. Market participants are also awaiting cues from the Indian CPI inflation and IIP numbers scheduled to be released later in the day.

At the interbank foreign exchange, the rupee opened at 83.95 against the greenback and traded in a tight range. In initial trade it touched 83.96, registering a fall of 1 paisa over its previous close.

On Friday, the rupee settled for the day higher by 2 paise at 83.95 against US dollar.

“The Indian rupee is expected to be calm as the Reserve Bank continues to buy dollars at lower levels and sell a smaller quantity to keep rupee in a small range,” Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP said.

The Reserve Bank of India (RBI) seems to be protecting 83.96 for now. Market also awaits for US CPI inflation data on Wednesday, Bhansali added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08 per cent higher at 103.22.

Brent crude, the global oil benchmark, advanced 0.18 per cent to USD 79.80 per barrel.

On the domestic equity market front, Sensex declined 269.65 points, or 0.34 per cent, to 79,436.26 points. The Nifty fell 74.65 points, or 0.31 per cent, to 24,292.85 points.

Foreign institutional investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth ₹406.72 crore, according to exchange data.

Meanwhile, India’s forex reserves jumped by USD 7.533 billion to a new record high of USD 674.919 billion for the week ended August 2, the Reserve Bank said on Friday (August 9, 2024).

A customer holds hundred rupees Indian currency notes near a currency exchange stall in New Delhi.
| Photo Credit: REUTERS

The rupee slipped 2 paise to 83.42 against the US dollar in early trade on Thursday, May 30, tracking the outflow of foreign capital amid volatile domestic equity markets.

Forex traders said a strong American currency also weighed on the local unit even as retreating crude oil prices capped the rupee’s sharp fall.

At the interbank foreign exchange market, the local unit opened at 83.42 and slipped further to 83.44. It soon recovered to trade at 83.42 against the greenback, registering a loss of 2 paise from its previous closing level.

On Wednesday, the rupee plunged 22 paise to close at 83.40 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 105.10, higher 0.06 per cent.

Analysts attributed the higher dollar index to the rising US Treasury yield amid the hawkish stance of the US Federal Reserve.

Also, they said that market participants will closely monitor the US GDP data for the first quarter (second estimate), weekly job reports and pending home sales numbers to be released later in the day.

Brent crude futures, the global oil benchmark, fell 0.05 per cent to USD 83.56 per barrel.

On the domestic equity market, the 30-share BSE Sensex was trading 227.31 points, or 0.31 per cent lower at 74,275.59 points. The broader NSE Nifty fell 62.20 points or 0.27 per cent to 22,642.50 points in initial trade.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, selling shares worth ₹5,841.84 crore, according to exchange data.

India’s forex reserves have increased yet again, RBI data shows. This is the fifth consecutive week of a jump in the overall reserves.
| Photo Credit: Reuters

India’s forex reserves increased by $140 million to touch its all-time high of $642.631 billion during the week ended March 22, the Reserve Bank of India said.

This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by $6.396 billion to $642.492 billion in the previous reporting week.

The previous peak was recorded in September 2021, when the country’s foreign exchange reserves reached $642.453 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.

For the week ended March 22, the foreign currency assets, a major component of the reserves, decreased by $123 million to $568.264 billion, the data released on March 29 showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves up

Gold reserves increased by $347 million to $51.487 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $57 million to $18.219 billion, the apex bank said. India’s reserve position with the IMF was also down by $27 million to $4.662 billion in the reporting week, the RBI data showed.