New delhi: India’s Foreign Exchange Reserves (Forex) Rose by USD 4.553 billion to USD 690.617 billion in the week ending may 9, according to official data related by the reserve bank of India (Rbi). The Previous all-time high was usd 704.89 billion in September 2024. After extending Gains for Eight Consective Weeks, The Forex Kity Declined in the Following Week, on the ONELY to RISED Ending May 9. Prior to the latest increase, forex reserve
The latest rbi data showed that India’s Foreign Currency Assets (FCA), The Largest Component of Foreign Exchange Reserve Reserve, STOOD AT USD 581.373 Billion. Gold Reserves Currently Amount to UsD 86.337 Billion, According to RBI Data, RISING BY A Whopping UsD 4.518 billion in the latest week.
Central Banks Across the World Are Increasing Safe-Hen Gold in their Foreign Exchange Reserves, and India is no exception. The share of gold maintained by the reserve bank of India in its Foreign Exchange Reserves Has Almost Doubled Since 2021.
Estimates Sugged that India’s Foreign Exchange Reserves are Selficient to Cover Approximately 10–12 months of projectioned imports. In 2023, India Added Around UsD 58 Billion to its Foreign Exchange Reserves, ContraSting with a Cumulative Decline of USD 71 Billion in 2022. In 2022.
Foreign exchange reserves, or fx reserves, are Assets Held by a Nation’s Central Bank or Monetary Authority, Primarily in Reserve Currencies Such as the Us Dollar, with Smaller Porters in the Euroo, Japanese yen, and pound sterling. The RBI often Intervenes by Managing Liquidity, Including Selling Dollars, to Prevent Steep Rupee Depreciation. It strategically boys dollars when the rupee is strong and sels when it weakens.