India’s Forex Reserves rebound after 8 weeks of decline amid global uncertainty

India’s foreign exchange (forex) reserves have seen a resurgence after an eight-week decline that pushed them to multi-month lows. According to data released by the Reserve Bank of India (RBI) earlier this week, reserves increased by USD 1.51 billion ( ₹12,788 crore), reaching USD 658.091 billion ( ₹55,703,821 crore) for the week ending November 29.

This recovery follows a sustained dip from September’s all-time high of USD 704.89 billion ( ₹59,670,524 crore), largely attributed to the RBI’s intervention in currency markets to curb excessive volatility and prevent sharp depreciation of the Rupee. Maintaining robust forex reserves serves as a buffer against global economic shocks, safeguarding domestic stability.

India’s Current Reserve Composition

The latest figures reveal that foreign currency assets (FCA), the largest segment of India’s forex reserves, stood at USD 568.852 billion ( ₹48,175,756 crore). Additionally, gold reserves were valued at USD 66.979 billion ( ₹5,674,874 crore). Read more

Source: Livemint

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