India's Forex Reserves

The reserves stood at a one-month low of $566.95 billion at the end of last week, down from $575.27 billion at the end of the prior week, during which it fell 1.5%

RBI said to have been actively buying dollars for the past couple of weeks, say currency traders

RBI has used close to $100 bn of FX reserves since late 2021 to defend the currency. Such action makes sense as it had been accumulating FX reserves before that and it wants INR stability

The decline in India's foreign exchange reserves is largely due to the valuation changes arising from an appreciating US dollar, Union Finance Minister Nirmala Sitharaman said. She made the remarks while addressing the International Monetary Finance Committee (IMFC) during the ongoing annual meeting of the World Bank and the International Monetary Fund (IMF) here on Friday. "India's foreign exchange reserves at USD 537.5 billion as on September 23, 2022, compare favourably with most peer economies. Two-thirds of the decline in reserves is due to valuation changes arising from an appreciating US dollar and higher US bond yields," Sitharaman said. Indeed, there has been an accretion of USD 4.6 billion to the forex reserves in Q1:2022-23 on a balance of payments (BoP) basis. Other external indicators like net international investment position and short-term debt also indicate lower vulnerability, she said. In fact, India's external debt to GDP ratio is the lowest among major emerging

India's overall foreign exchange reserves will deplete further this year due to a ballooning current account deficit and interventions by the central bank to support the rupee, Deutsche Bank said

Prime Minister Narendra Modi on Wednesday said the country saved Rs 50,000 crore in foreign exchange by blending ethanol with petrol in the last seven-eight years.

Says macroeconomic fundamentals and forex reserves are robust enough to deal with current geo-political challenges

In the previous reporting week, the overall reserves had declined by $2.695 billion to $597.728 billion, falling below the $600 billion mark

After reaching a record high in the previous week, the country's foreign exchange reserves declined by $1.34 billion to $641.113 billion in the week ended September 10, 2021, according to RBI data

India's foreign exchange reserves fell by $2.470 billion, during the week ended August 20

India's foreign exchange reserves decreased by USD 2.099 billion to stand at USD 619.365 billion for the week ended August 13 due to a fall in core currency assets and gold, RBI data showed on Friday. The forex kitty had increased by USD 889 million to a lifetime high of USD 621.464 billion in the previous reporting week. Foreign currency assets (FCAs), a major component of the overall reserves, decreased by USD 1.358 billion to USD 576.374 billion in the reporting week, as per the weekly data by the Reserve Bank of India (RBI). 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. Value of the gold reserves declined for the second consecutive week, dropping USD 720 million to USD 36.336 billion, the data showed. The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 7 million to USD 1.544 billion. The country'

The country's foreign exchange reserves increased by USD 889 million to a lifetime high of USD 621.464 billion in the week ended August 6, 2021, RBI data showed on Friday

It took just about a year for reserves to rise by $100 billion, which has generally been the pace of accumulation since Shaktikanta Das became RBI governor in November 2017

Experts say there's liquidity in the system.

Rates spike when there are huge dollars in the cash market but not enough takers to swap for a future date

The reserves increased for the second consecutive week

India needs a prudent policy on rising forex reserves

The country's foreign exchange reserves swelled by $4.277 billion to a lifetime high of $572.771 billion in the week ended November 13, RBI data showed on Friday.

The country's foreign exchange reserves rose $183 million to touch a record high of $560.715 billion in the week ended October 30, RBI data showed on Friday.

The country's reserve position with the IMF also increased by $6 million to $4.634 billion during the reporting week