Diabytes
India's foreign exchange News
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India's reserve position with the IMF was up $43 million at $4.502 billion in the reporting week, the apex bank data showed.
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The reserves have been falling ever since they touched an all-time high of USD 704.89 billion in September, and they are now over 10 percent lower than the peak.
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The reserves have been declining likely due to RBI intervention aimed at preventing a sharp depreciation of the Rupee.
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The country's Forex reserves of over $700 billion are at an all-time high and the fourth-largest in the world.
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According to the RBI’s Weekly Statistical Supplement, Special Drawing Rights (SDRs) experienced a modest increase of $8 million, reaching $18.547 billion.
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In the calendar year 2023, India added about USD 58 billion to its foreign exchange reserves.
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India's foreign exchange reserves jumped to touch a new lifetime high during the week that ended June 7.
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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 9.078 billion to USD 505.519 billion.Gold reserves rose by USD 1.106 to USD 42.890 billion.
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The reserves had increased by $2.022 billion to $369.954 billion in the previous reporting week.
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India`s foreign exchange reserves inched up by $16.6 million to $367.15 billion as on October 28, the Reserve Bank of India (RBI) has said.
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A Strengthening rupee and increased foreign fund inflows into the equity markets buoyed India's foreign exchange (Forex) kitty by $458 million, experts said on Saturday.
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