archiveIndia’s foreign exchange

India's foreign exchange reserves surged by $5.17 billion to $696.66 billion for the week ended June 6, data released by the RBI on Friday showed. The sharp rise during the week has brought the country's forex kitty close to the historic high of $704.885 that was scaled at the end of September 2024.  A strengthening of the country's foreign exchange kitty also helps bolster the rupee vis-a-vis the US dollar. For the week ending on June 6, foreign currency assets, a major component of the reserves, increased by $3.47 billion...

India's foreign exchange reserves slumped in the week that ended on February 28, as per the latest RBI data. In the week under consideration, the foreign exchange reserves declined by $1.781 billion to $638.698 billion. Forex reserves had slumped for about four months, recently hitting an 11-month low. Then followed the latest rollercoaster movement, with gains some weeks and declines the next. Forex reserves started falling after touching an all-time high of $704.89 billion in September. They are now about 10 percent lower from their peak. The decline in reserves...