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The Reserve Bank of India sold a record $398.71 billion of foreign currency in 2024-25 on a gross basis as the Indian central bank stepped up its defence of the rupee amid a volatile global environment. The RBI’s sale of foreign currency in the spot market in the last financial year was sharply higher than the $153.03 billion it had sold in 2023-24 and the previous record of $212.57 billion in 2022-23, data released late Wednesday by the central bank showed. To be sure, the RBI also bought foreign currency...

Foreign currency assets (FCA), which make up the largest share of the reserves, stood at 574.09 billion. (image source: Canva) India’s foreign exchange reserves surged to a record $676.3 billion as of April 4, reflecting a robust weekly increase of $10.9 billion, according to data released by the Reserve Bank of India (RBI). The spike came during a week marked by the US dollar's decline across global currency markets, following heightened trade tensions spurred by President Donald Trump's tariff offensive. Compared to end-March 2025, forex reserves have climbed by $7.9...