India’s foreign exchange reserves (Forex) showed the official figures released by the Reserve Bank (RBI), a USD 4.888 billion dip in USD 4.888 billion in USD 685.729 billion in the week ended 16 May.
Estimates suggest that an estimated import of about 10–12 months in India’s foreign exchange reserves has been adequately covered. Even with this weekly loss, the Forex Kitty is quite close to its all -time high USD 704.89 billion, reaching in September 2024.
recently, Foreign exchange reserves Extended benefits for the eighth straight week, helps them to inch around their previous peaks after a consecutive recession for about four months. The latest RBI data has shown that India’s foreign exchange property (FCA), the largest component of foreign exchange reserves, is USD 581.652 billion.
Indian gold reserved status
According to RBI data, the Gold Reserve is currently an amount of USD 81.217 billion. It fell from USD 5.121 billion in the latest week. Central banks worldwide are rapidly accumulating safe-heaven gold in their foreign exchange reserves Kitty, and India is no exception. Gold stake by reserve Bank of India (RBI) It has almost doubled in its foreign exchange reserves since 2021.
In 2023, India added about 58 billion USD in its foreign exchange reserves with a cumulative decline of USD 71 billion in 2022. In 2024, in 2024, the reserve grew slightly more than 20 billion USD.
Forex reserves, or FX stores, are property organized by a nation’s central bank or monetary authority, mainly in reserved currencies like US dollars, with small portions in euros, Japanese yen and pound sterling.
The RBI often interfere by managing liquidity, including selling dollars, to prevent depreciation of steep rupee. RBI strategically buys dollars when the rupee is strong and sells when weakens.
