Diabytes
Forex reserves News
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Central banks worldwide increasingly accumulating safe-haven gold in their foreign exchange reserves kitty, and India is no exception.
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The Foreign Currency Non-Resident Bank (FCNR(B)) deposits rose 9% year-on-year in April 2025, with outstanding balances increasing to $33.08 billion from $30.26 billion in April 2024.
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The gold component of the country’s forex reserves increased by $428 million to $86.32 billion during the week, according to the RBI figures.
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In the preceding week ended May 16, the country’s forex kitty had declined by $4.89 billion to $685.73 billion. However, prior to this, the foreign exchange reserves surged by $4.5 billion to $690.62 billion for the week ended May 9.
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An increase in the foreign exchange reserves reflects strong fundamentals of the economy and gives the RBI more headroom to stabilise the rupee when it turns volatile.
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The gold reserves also witnessed a hit, decreasing USD 2.545 million to USD 81.82 billion during the reporting week.
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The forex reserves had increased to an all-time high of $704.885 billion in September last year 2024.
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The RBI bought another 8 tonnes of gold in November 2024, as Central banks around the world continued their buying spree with a collective purchase of 53 tonnes of the precious metal during the month, according to the latest World Gold Council (WGC) report.
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The RBI closely monitors foreign exchange markets, intervening only to maintain orderly market conditions and curb excessive volatility in the Rupee exchange rate, without adhering to any fixed target level or range.
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Prior to this, India's foreign exchange reserves surged by $4.3 billion during the week ended June 7 to scale a life-time high of $655.8 billion.
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In the calendar year 2023, the RBI added about USD 58 billion to its foreign exchange kitty.
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Gold reserves increased by USD 347 million to USD 51.487 billion during the week, the RBI said.
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The forex kitty stood at USD 622.5 billion for the week ended February 2.
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The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
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The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments.
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According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 2.14 billion to USD 514.48 billion.
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According to the weekly statistical supplement of the Reserve Bank of India (RBI) released on Friday evening, gold reserves of the country declined by USD 521 million to USD 46.125 billion.
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It can be noted that in October 2021, the country's forex kitty reached an all-time high of USD 645 billion.
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According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, rose by USD 4.38 billion to USD 509.728 billion.
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RBI releases
India's forex reserves fell by USD 2.39 bn.
Country's forex reserves fell to a 3-month low.
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