archiveforex reserves

India’s foreign exchange reserves rose by $4.84 billion to $702.78 billion in the week ended June 27, the Reserve Bank of India (RBI) said on Friday, July 4.In the previous week, reserves had declined by $1.01 billion to $697.93 billion. The reserves remain just below the record high of $704.89 billion reached in late September 2024. Foreign currency assets, the largest component of the forex reserves, reflect the impact of movements in non-US currencies such as the euro, pound and yen, the RBI said.Gold reserves fell by $1.23 billion to...

India's foreign exchange reserves (forex) declined by $1.02 billion this week after extending gains in the previous week stabilising at $697.93 billion, official data released by the Reserve Bank of India showed.The Forex extended their gains, jumping $2.294 billion to $698.950 billion in the week ending June 13. As on June 20, the data shows that the foreign currency assets declined $0.36 billion to $589.07 billion.Gold reserves were down by $5.73 million to stand at $85.74 billion during the week, the apex bank's data shows while the special drawing rights...

A recent report by the European Central Bank reveals that gold has overtaken the Euro as the second-highest foreign exchange reserve asset for the central banks. Well, this should not shock any of us. Gold has drawn a lot of attention from central banks in the past many years. It was only a matter of time before central bankers preferred gold to at least some of the paper currencies. Having said that, this is still a very surprising development. And it actually means a lot! You see, the dollar’s share...