Page 2 - Foreign Exchange Reserves

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Foreign exchange reserves rise at fastest pace in more than a year

Revaluation amid weaker dollar, spot market purchases lift reserves to $544.72 billion

India's forex reserves down again; fall $1.1 billion to $529.99 billion

The latest decline in the reserves was primarily on account of a fall in the RBI's gold reserves, which fell by $705 million to 37.06 billion

Forex drops by $1.09 bn to $529 bn on sharp decline in gold reserves: Data

India's foreign exchange reserves dropped by USD 1.087 billion to stand at USD 529.994 billion for the week ended November 4 on a sharp decline in the gold reserves, the Reserve Bank said on Friday. In the previous reporting week, the reserves had swelled by USD 6.561 billion to reach USD 531.081 billion, making it the biggest weekly jump in a year. In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused by global developments. Foreign currency assets (FCA), a major component of the overall reserves, decreased by USD 120 million to USD 470.727 billion during the week to November 4, according to the Weekly Statistical Supplement released by the 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.

India's foreign exchange reserves jump $6.5 billion to $531 billion

The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week

Forex reserves post biggest weekly gain in more than a year: RBI data

In the holiday-shortened week that ended Oct. 28, the rupee rose to snap a run of six weeks of declines

Abuse of Liberalised Remittance Scheme for offshore betting under CBIC lens

Separate investigation on home-grown online gaming companies shows tax evasion of up to Rs 80,000 crore

Statsguru: Six charts show India's declining foreign exchange reserves

RBI has scheduled an off-cycle meeting for November 3

Foreign exchange reserves fall to $525 billion, lowest since July 2020

So far in 2022, the Indian currency has weakened 9.9 per cent against the US dollar

India's forex reserves touch $524.5 bn, lowest level since July 2020

The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion

India's foreign exchange reserves at lowest level since July 2020

The fall in foreign exchange reserves was primarily on account of a decline in the RBI's foreign currency assets that fell $2.8 billion on-week to $468.87 billion

A first in 9 weeks: Foreign exchange reserves rise by $204 million

Analysts said there was an increase in the forex reserves, even as the RBI did not discontinue shielding the rupee from excessive volatility through sales of the dollar

Forex reserves rise to $532.87 bn for the first time in over two months

The country's reserves rose by $204 million from the previous week, the first increase since the week ended July 29

RBI asks banks to set aside capital, provisions for unhedged FX exposure

Move comes amid sharp depreciation in rupee; says losses incurred by entities with such exposure could affect health of banking system

Forex reserves decline to over two-year low to $532.66 bn: RBI data

India's foreign exchange reserves fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020, the Reserve Bank of India's (RBI) weekly statistical supplement showed

67% of fall in forex reserves due to valuation changes: RBI governor Das

Das reiterated on Friday the RBI does not target any particular level for the domestic exchange rate and only intervenes in the market to smoothen out excessive volatility

Fall in forex reserves due to rupee depreciation not worrying, say experts

The decline in foreign exchange reserves of the country due to the depreciation of the rupee is not a worrying factor, and there is coverage for nine months of imports, experts said here on Thursday. The country's forex kitty continued its southward journey, with the overall reserves declining by USD 5.219 billion to USD 545.652 billion for the week ended September 16, the Reserve Bank of India had said. The reserves, which have been dipping as the central bank deploys the kitty to defend the rupee amid pressure caused majorly by global developments, had declined by USD 2.23 billion to USD 550.87 billion in the previous week. State Bank of India Group Chief Economic Adviser Soumya Kanti Ghosh said, "India's foreign exchange reserves have gone down from USD 630 billion to USD 550 billion. But is not a cause for concern as there is coverage for nine months of imports." However, he said the rupee should find some value. HDFC Bank Chairman Atanu Chakrabarty said India is not decoupled

India FX reserves set to shrink further, stir memories of 2008 crisis: Poll

Those reserves are forecast to fall another $23 bn to $523 bn by the end of this year, according to the median forecast from a Sept. 26-27 Reuters poll of 16 economists

Asian central banks need broader foreign exchange defence as reserves slide

India is already estimated to have spent $75.1 bn this year supporting the rupee in the spot and forward markets, while China has probably spent $39.6 bn

RBI may need to reload reserves as rupee falls further: HDFC economist

The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee