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India.com
2 days ago
- Business
- India.com
Bad news for India! forex reserves fell by Rs 816370887300 to…, reserve position with IMF also down by…
India's foreign exchange reserves fell by USD 9.322 billion to USD 688.871 billion in the week ended August 1, marking one of the sharpest declines in recent times, RBI data showed on Friday. This follows a USD 2.703 billion increase in the reserves to USD 698.192 billion in the previous week. India Forex Reserves Drop USD 9.32 Billion For the week ended August 1, foreign currency assets, a major component of the reserves, decreased by USD 7.319 billion to USD 581.607 billion, according to the data. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves decreased by USD 1.706 billion to USD 83.998 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 237 million to USD 18.572 billion, the apex bank said. India's reserve position with the IMF was also down by USD 59 million at USD 4.694 billion in the reporting week, the apex bank data showed. How Are Central Banks Managing Forex? Central banks worldwide are increasingly accumulating safe-haven gold in their foreign exchange reserves kitty, and India is no exception. The share of gold maintained by the Reserve Bank of India (RBI) in its foreign exchange reserves has almost doubled since 2021, till recently. In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion, touching an all-time high of USD 704.885 billion at the end of September 2024. India's foreign exchange reserves (Forex) are sufficient to meet 11 months of the country's imports and about 96 per cent of external debt as already announced by Governor Sanjay Malhotra. (With Input From Agencies)
Time of India
2 days ago
- Business
- Time of India
Forex watch: India's reserves drop $9.32 bn to $688.87 bn this week, led by decline in foreign currency assets & gold
AI image India's foreign exchange reserves fell by $9.322 billion to $688.871 billion for the week ended August 1, marking one of the steepest weekly declines in recent months, according to data released by the Reserve Bank of India (RBI) on Friday. In the previous reporting week, reserves had risen by $2.703 billion to touch $698.192 billion, PTI reported. The sharp drop was primarily due to a $7.319 billion fall in foreign currency assets, which make up the bulk of the reserves, bringing the total to $581.607 billion, the data showed. Expressed in dollar terms, the foreign currency assets reflect the impact of changes in the value of other reserve currencies such as the euro, pound, and yen. Gold reserves also declined significantly, down $1.706 billion to $83.998 billion for the week. The RBI added that Special Drawing Rights (SDRs) were lower by $237 million at $18.572 billion, while India's reserve position with the IMF dipped by $59 million to $4.694 billion. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
The Print
25-07-2025
- Business
- The Print
India's forex kitty drops by USD 1.183 bn to USD 695.489 bn
For the week ended July 18, foreign currency assets, a major component of the reserves, slipped by USD 1.201 billion to USD 587.609 billion, the data released on Friday showed. In the previous reporting week, the overall kitty had dropped by USD 3.064 billion to USD 696.672 billion. The reserves had touched an all-time high of USD 704.885 billion in end-September 2024. Mumbai, Jul 25 (PTI) India's forex kitty declined by USD 1.183 billion to USD 695.489 billion during the week ended July 18, the RBI said on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. However, the gold reserves increased by USD 150 million to USD 84.499 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 119 million to USD 18.683 billion, the apex bank said. India's reserve position with the IMF declined by USD 13 million to USD 4.698 billion in the reporting week, the apex bank data showed. PTI AA SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
18-07-2025
- Business
- News18
Forex reserves drop by USD 3 bln to USD 696.672 bln
Agency: PTI Last Updated: Mumbai, Jul 18 (PTI) India's forex reserves dropped by USD 3.064 billion to USD 696.672 billion during the week ended July 11, the RBI said on Friday. In the previous reporting week, the overall kitty had declined by USD 3.049 billion to USD 699.736 billion. The reserves had touched an all-time high of USD 704.885 billion in end-September 2024. During the week ended July 11, foreign currency assets, a major component of the reserves, dropped by USD 2.477 billion to USD 588.81 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves declined by USD 498 million to USD 84.348 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 66 million to USD 18.802 billion, the apex bank said. India's reserve position with the IMF declined by USD 24 million to USD 4.711 billion in the reporting week, the apex bank data showed. PTI AA HVA Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Daily News Egypt
07-07-2025
- Business
- Daily News Egypt
Egypt's net international reserves rise to $48.7bn in June 2025
The Central Bank of Egypt (CBE) announced that the country's net international reserves increased to $48.7bn in June 2025, up from $48.526bn in May—an uptick of approximately $174m. In a statement issued Monday, the CBE indicated that the foreign currency component of the reserves reached $35.076bn in June, compared to $34.809bn in May. The value of Special Drawing Rights (SDRs) remained unchanged at $41m. Gold reserves amounted to $13.586bn in June, slightly down from $13.679bn the previous month. Egypt's foreign exchange reserves consist of a diversified basket of major global currencies, including the US dollar, euro, British pound, Japanese yen, and Chinese yuan. The allocation of each currency depends on prevailing exchange rates and their relative stability in global markets, in accordance with a structured strategy developed by CBE officials. The primary role of the CBE's foreign reserves—which comprise both gold and foreign currencies—is to safeguard the country's ability to import essential goods, meet external debt obligations, and act as a buffer during times of economic uncertainty, particularly when foreign currency inflows from key sectors come under strain. Meanwhile, the Central Bank reported that net foreign assets (NFAs) across the Egyptian banking sector jumped to $14.710bn—or EGP 732.556bn—in May 2025, up from $13.5bn (EGP 687.723bn) in April. This marks a key milestone, as NFAs recorded a surplus for the first time since January 2022, when a surplus of EGP 9.674bn was registered. In contrast, the sector had posted a deficit of EGP 174.4bn in April 2024, while the May 2025 surplus reached EGP 676.4bn. Total foreign assets across the banking system—including both the Central Bank and commercial banks—rose to approximately EGP 4.111trn in May, up from EGP 3.963trn in April. On the liabilities side, total foreign obligations amounted to EGP 3.379trn in May, compared to EGP 3.275trn in April 2025.
