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Time of India
12 hours ago
- Business
- Time of India
Forex boost: India's reserves climb by $2.29 billion to $698.95 billion; led by gains in foreign currency assets and gold
AI image means for representation only India's foreign exchange reserves rose by $2.294 billion to $698.95 billion in the week ended June 13, according to data released by the Reserve Bank of India (RBI) on Friday. This follows a $5.17 billion increase in the previous week, taking the total gains over two weeks to nearly $7.5 billion, PTI reported. The all-time high for India's forex reserves was $704.89 billion, recorded at the end of September 2024. According to the RBI, foreign currency assets (FCAs) — the largest component of the reserves — rose by $1.739 billion to $589.43 billion during the latest week. These assets reflect the impact of movement in non-US currencies such as the euro, yen and pound held in the reserves. The gold reserves increased by $428 million to $86.32 billion, while Special Drawing Rights (SDRs) rose by $85 million to $18.76 billion. India's reserve position with the IMF also edged up by $43 million to $4.45 billion, the RBI data showed. Forex reserves act as a buffer to stabilise the rupee and meet India's external payment obligations. The current rise comes amid steady capital inflows and lower crude oil prices. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
09-06-2025
- Business
- Business Standard
India's forex reserves fall by $1.24 billion to $691.485 billion
Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.
India.com
31-05-2025
- Business
- India.com
Not Pakistan but this country leads in taking loan from IMF, it is..., India's position is...
(Image: REUTERS/Yuri Gripas) New Delhi: Whenever the discussion arises regarding the International Monetary Fund (IMF) and Pakistan, a distinct perception is formed. The perception is that Pakistan is the most economically dependent country on the IMF. Recently, during the conflict between India and Pakistan, the IMF had lent money to Pakistan again. However, it is undeniable that Pakistan has received a significant amount of loan from the IMF, but it is not the top borrower from this institution. According to the IMF, over 60% of the total loans given to 91 countries worldwide have gone to just five countries. At the top of this list is Argentina, with outstanding IMF credit amounting to 40.3 billion SDRs (Special Drawing Rights). Although Pakistan's name is included in the top 10 list, it is not in the first position. What is SDR? SDR is a special reserve asset of the IMF, the value of which is determined based on five major currencies (US Dollar, Euro, Chinese Renminbi, Japanese Yen, and British Pound). It is not a direct currency but serves as a basis for member countries to transact in actual currencies. Where does Pakistan stand? Argentina ranks first in borrowing from the IMF, followed by Ukraine, which has a debt of 10.7 billion SDR. Next are Egypt (8.2 billion), Pakistan (6.9 billion), and Ecuador (6.4 billion). Pakistan, often perceived as heavily dependent on IMF assistance, ranks fourth on this list. What is India's position? India has also borrowed from the IMF. However, India ranks much lower on this list. This means that India has taken much less loan from the IMF compared to Pakistan. India holds the 31st position on the IMF list, with a debt of 1.98 billion SDR.
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Business Standard
23-05-2025
- Business
- Business Standard
Forex reserves decline $4.88 billion to $685.72 billion, shows RBI data
India's foreign exchange reserves declined by $4.88 billion to $685.72 billion for the week ending May 16, according to data released by the Reserve Bank of India (RBI) on Friday. The forex reserves had swollen by $4.55 billion in the previous week, which had pushed the total reserves to $690.617 billion. The country had reached a record high of $704.885 billion in September 2024. During the reporting week, foreign currency assets, the largest portion of the reserves, rose by $279 million to $581.652 billion. These assets, when valued in dollars, reflect changes due to the movement of other major currencies like the euro, pound, and yen. Meanwhile, gold reserves saw a significant decrease of $5.12 billion, bringing them down to $81.21 billion. RBI had declared gold reserves worth $86.337 billion last week. The value of Special Drawing Rights (SDRs) dropped by $43 million to $18.49 billion. The central bank had posted $18.53 billion SDRs for the week ending May 9. Additionally, India's reserve position with the International Monetary Fund (IMF) decreased by $3 million to $4.371 billion, it had reported $4.374 billion reserve position in IMF last week.
The Print
18-05-2025
- Business
- The Print
Forex reserves jump USD 4.5 bln to USD 690.61 bln on rise in gold assets
For the week ended May 9, foreign currency assets, a major component of the reserves, increased by USD 196 million to USD 581.373 billion, the data released on Friday showed. In the previous reporting week, the overall reserves had dropped by USD 2.065 billion to USD 686.064 billion. The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. Mumbai, May 16 (PTI) India's forex reserves jumped by USD 4.553 billion to USD 690.617 billion for the week ended May 9 on the back of a steep increase in gold assets, 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. Gold reserves jumped by USD 4.518 billion to USD 86.337 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 26 million to USD 18.532 billion, the apex bank said. India's reserve position with the IMF was also down by USD 134 million at USD 4.374 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.
