FOREX DATA
India's forex reserves rise by $816 million to $653.7 bn as on June 21
India's forex reserves increased by $816 million to $653.7 billion as of June 21, compared to a previous contraction of $2.92 billion to $652.9 billion. Foreign currency assets decreased by $106 million to $574.1 billion. Gold reserves rose by $988 million to $56.95 billion, while SDRs fell by $57 million to $18.04 billion.
India’s forex reserves dip $2.9 bn to come off all-time record high
India's foreign exchange reserves saw a notable decrease of $2.92 billion to reach $652.9 billion as of June 14, according to data from the Reserve Bank of India. This followed a significant increase of $24.3 billion in the previous week, pushing reserves to a record high of $655.8 billion as of June 7.
Diversifying Forex Reserves: RBI bought gold sold securities in April
The value of India’s – essentially the Reserve Bank of India’s – US treasury securities dipped $ 7.1 billion in April to take the value of outstanding US treasury securities’ exposure to $233.5 billion, according to the data released by the US treasury department late on Tuesday.
Travel dominates forex spending abroad: RBI data
Outward remittances from India under the liberalised remittance scheme fell by 2% year on year. Travel was the largest chunk of foreign currency outflows in April, with maintenance of close relatives being the second largest reason for remittances. Indians spent $31.7 billion overseas under the LRS in the fiscal ended March 2024.
Forex reserves soar to a new high of $655.8 billion as on June 7
The Reserve Bank of India's foreign exchange reserves reached a record high of $655.8 billion for the second consecutive week, driven by foreign currency assets rising $3.7 billion to $576.3 billion. The increase was likely due to the RBI's dollar purchases after the rupee appreciated. Foreign portfolio investors have deployed $7.11 billion in Indian debt so far this year, ahead of the JP Morgan bond index inclusion.
India's forex reserves rise by $4.3 bn to record high of $655.8 bn as of June 7
India's forex reserves reached a record high of $655.8 billion as of June 7, surpassing the previous high of $4.8 billion. Foreign currency assets (FCAs) increased by $3.77 billion to $576.3 billion. Gold reserves increased by $481 million to $56.98 billion, while SDRs rose by $43 million to $18.16 billion. Reserve in the IMF surged by $10 million to $4.33 billion.
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RBI using forex market tools to ease liquidity tightness
RBI uses forex tools to inject cash into banking system ahead of large outflows due to advance tax payments, keeping borrowing costs low and increasing reserves without impacting inflation-fighting stance.
Euro slips to one-month low as Macron calls French election
The euro fell as French President Emmanuel Macron called a shock election after far-right gains in European Parliament elections. U.S. nonfarm payrolls data showed job growth exceeding expectations, impacting Fed rate cut expectations.
India's forex reserves at record $651 billion
India's foreign exchange reserves reached a record $651.5 billion as of May 31, 2024, bolstered by robust services exports and strong remittances. RBI Governor Shaktikanta Das highlighted the resilience of India's external sector. The rise in global capability centers and consistent foreign portfolio investments have also strengthened the economy's external financing position.
India’s forex reserves down $2 bn to come off all-time record high
India's forex reserves fell by $2 billion to $646.67 billion as of May 24, according to the Reserve Bank of India (RBI). This decline follows a previous increase of $4.54 billion, reaching an all-time high of $648.7 billion on May 17. The reduction includes a $1.51 billion decrease in foreign currency assets, a $482 million drop in gold reserves, a $33 million dip in SDRs, and a $1 million decline in IMF reserves.
Rupee slips on importer dollar demand, forward premiums inch up
The dollar index slipped below the 104.5 mark, extending its losses from Monday, while most Asian currencies ticked up, with the Korean won up 0.4% and leading gains.
India's forex reserves rise to an all time high for week ending on May 17; up by $4.54 bn to $648.7 bn
India's forex reserves reached an all-time high of $648.7 billion as of May 17, according to the Reserve Bank of India. This follows a surge of $2.56 billion in the previous week. Foreign currency assets (FCAs) also increased by $3.361 billion to $569.01 billion. Gold reserves increased by $1.24 billion to $57.19 billion, while SDRs rose by $113 million to $18.16 billion.
India's forex reserves rise for second straight week, up by $2.56 bn
India’s foreign exchange reserves increased by $2.56 billion to $644.15 billion as of May 10, 2024, according to the Reserve Bank of India (RBI). The previous week, reserves rose by $3.66 billion to $641.59 billion. The RBI's Weekly Statistical Supplement indicated that foreign currency assets (FCAs) grew by $1.49 billion to $565.65 billion.
Rupee ends flat; oil cos, foreign banks' dollar demand offsets rise in Asia FX
The Indian rupee closed flat on Thursday as dollar demand from local oil companies and likely equity-related outflows weighed on the local unit even as most other Asian currencies rallied.
Rupee closes little changed, logs slight weekly decline
The Indian rupee closed nearly flat on Friday, tracking subdued moves in its Asian peers and as expectations of the central bank's intervention blunted the pressure of dollar demand from local oil companies and foreign banks.
India's forex reserves up by $3.66 bn to $641.59 bn as of May 03 after 3 weeks slump
India's forex reserves increased by $3.66 billion to $641.59 billion as of May 3, up from a previous contraction of $2.41 billion. Foreign currency assets (FCAs) also surged by $4.45 billion to $564.16 billion. Gold reserves dropped by $653 million to $54.88 billion, while SDRs increased by $2 million to $18.05 billion. Reserve position in the IMF decreased by $140 million to $4.499 billion.
Airtel Africa Q4 Results: Net loss at $91 million on forex woes
Airtel Africa Q4 Results: In a statement Thursday, Airtel Africa said the board has approved a share buyback programme of up to $100 million over a period of 12 months. The company purchased 7.4 million shares for a total consideration of $9 million in March 2024.
Rupee ends flat as state-run banks' dollar sales offset fall in Asian peers
The rupee closed at 83.5075 against the U.S. dollar, against 83.4875 in the previous session. It hovered in a tight band of 83.4775 and 83.5175 during the session.
India's forex reserves decline by $2.41 bn to $637.92 bn as of April 26
India's foreign exchange reserves saw a decline of $2.41 billion to $637.92 billion as of April 26, according to the latest data from the Reserve Bank of India (RBI). This follows a previous decrease of $2.83 billion to $640.33 billion for the week ending on April 19, 2024. The RBI's Weekly Statistical Supplement revealed that Foreign Currency Assets (FCAs) dropped by $1.16 billion to $559.7 billion, while Gold reserves decreased by $1.28 billion to $55.53 billion.
India's forex reserves down by $2.8 bn to $640.33 bn as of April 19
India's forex reserves dropped by $2.83 billion to $640.33 billion as of April 19, as per the latest Reserve Bank of India data. This decline follows a previous decrease of $5.4 billion to $643.16 billion reported for the week ended April 12, 2024. Foreign currency assets (FCAs) shrank by $3.79 billion to $560.86 billion, while gold reserves increased by $1.01 billion to $56.81 billion.
India’s forex reserves down $5.4 bn to come off all time record high
India's foreign exchange reserves saw a decline of $5.4 billion to $643.16 billion as of April 12, as per the latest data from the Reserve Bank of India (RBI). This followed a surge of $2.9 billion to a record high of $648.56 billion in the previous week. The decline was primarily due to a decrease of $6.51 billion in foreign currency assets (FCAs), which include assets denominated in currencies other than the US dollar.
India's foreign exchange reserves at a record high of $648.56 bn
India's foreign exchange reserves reached a new record high of $648.56 billion in the week ending April 5th, surpassing the previous peak of $645.58 billion. The reserves increased by $2.9 billion, primarily driven by a $2.4 billion rise in gold assets, influenced by a surge in bullion prices. Geopolitical uncertainties in West Asia and Eastern Europe have prompted central banks worldwide to boost their gold assets, aiming to mitigate currency volatility and high interest rates in the US.
India's forex reserves up by $2.98 bn to hit fresh peak of $648.56 bn
India's foreign exchange reserves hit a record high of $648.56 billion as of April 5, with a $2.98 billion increase. The Reserve Bank of India (RBI) reported the previous week's reserves at $645.6 billion, reflecting a $2.95 billion surge. According to the RBI's Weekly Statistical Supplement, Foreign currency assets (FCAs) rose by $549 million to $571.17 billion, while gold reserves grew by $2.4 billion to $54.56 billion.
India's forex reserves hit record high at $645.58 billion for week ending on March 29
RBI's forex reserves surged to a record $645.58 billion, boosted by a $2.9 billion increase, with foreign currency assets rising to $570.61 billion. Governor Das underlined the importance of reserves as a safety net.
RBI MPC: India's forex reserves at an all-time high of $645.6 bn as of March 29
India's foreign exchange reserves reached a record high of $645.6 billion as of March 29, as stated by Reserve Bank of India Governor Shaktikanta Das during the Monetary Policy Committee announcement. He emphasized the improved resilience of India's external sector, expressing confidence in comfortably meeting external financing needs.
India's forex reserves up by $140 mn to $642.63 bn as of March 22
India's foreign exchange reserves continued their upward trend, reaching $642.63 billion as of March 22, marking the fifth consecutive weekly increase. The rise amounted to $140 million for the reporting week. Foreign currency assets (FCAs) decreased slightly to $568.26 billion, while gold reserves saw an increase to $51.49 billion.
India's forex reserves hit record high of $642.5 bn: RBI data
India's foreign exchange reserves soared to a record high of $642.49 billion by March 15, marking a fourth consecutive weekly increase. Buoyed by robust economic growth projections and substantial overseas investments, the reserves provide a buffer against currency fluctuations and cover more than 11 months of imports.
India's forex reserves jump to over two-year high of $636.1 bn
India's foreign exchange reserves saw a substantial increase of $10.47 billion to reach $636.1 billion for the week ending on March 8, as per the latest data released by the Reserve Bank of India (RBI). This follows a previous surge of $6.55 billion, bringing the reserves to $625.63 billion for the week ended March 1, 2024.
India's forex reserves up by $591 mn to $616.73 bn for the week ending Jan 26
India's foreign exchange reserves surged by $591 million to $616.73 billion for the week ending on January 26, the latest data by Reserve Bank of India (RBI) showed on Friday.
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