What is 'Foreign Exchange Reserves'

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• Rupee hits all-time low of 84.60 vs USD on economic growth worriesThe Indian rupee plunged to an all-time low on Monday amid concerns over slowing economic growth and regional currency declines. The Reserve Bank of India’s likely intervention helped prevent further losses. Persistent outflows from domestic equities and a stronger dollar continued to weigh on the rupee, as foreign investors sold off local stocks.
• Gold holds up incremental value of forex reservesThe Reserve Bank of India has been increasing its gold reserves, which have helped to offset a decline in foreign currency assets. This strategy has helped the central bank maintain the country's foreign exchange reserves amidst a global trend of central banks increasing their gold holdings.
• Gold holds up incremental value of forex reservesThe Reserve Bank of India has been increasing its gold reserves, which have helped to offset a decline in foreign currency assets. This strategy has helped the central bank maintain the country's foreign exchange reserves amidst a global trend of central banks increasing their gold holdings.
• India's forex reserves fall to $657.89 billion, down $17.7 billion as of Nov 15India's foreign exchange reserves experienced a decline of $17.7 billion, reaching $657.89 billion by November 15th, as reported by the Reserve Bank of India. The decrease was primarily attributed to a drop in Foreign Currency Assets. Despite this dip, India maintains its position among the world's largest foreign exchange reserve holders.
• RBI purchases $9.6 billion in September to curb rupee's appreciation amid Fed rate cut buzzThe Reserve Bank of India (RBI) purchased a significant $9.6 billion in September to curb the rupee's appreciation amid strong foreign investment inflows. This intervention, aimed at managing volatility, has led to the rupee being overvalued compared to its trading partners, potentially impacting export competitiveness despite recent export growth.
• RBI defends currency strategy, says interventions aim to shield economy from global risksThe Reserve Bank of India (RBI) defended its management of the rupee, stating its interventions in the foreign exchange market are necessary to maintain stability amidst global economic uncertainty. The RBI emphasized that the rupee's value is determined by market forces and the country's strong economic fundamentals, ensuring its position as one of the least volatile currencies globally.
• Rupee holds ground; cenbank intervention counters outflows, dip in Asia FXThe Indian rupee ended nearly unchanged on Monday, supported by the central bank's market intervention as portfolio outflows and a decline in most Asian currencies weighed on the local unit.
• Indian economy well placed to handle any kind of spillovers from global events: RBI GuvRBI Governor Shaktikanta Das stated that the Indian economy and financial sector are in a strong position. India's external sector is robust, and the current account deficit remains manageable. Das highlighted India's significant foreign exchange reserves. He acknowledged the presence of inflation but expressed confidence in its moderation.
• India's foreign exchange reserves dip by another $6.477 bn in the week to November 8This was the sixth straight weekly fall in reserves after reaching the all time high of $704.885 seen on September 27. Reserves were depleted by $29.233 billion in the last one-and-a-half month.
• India in a sweet spot: Moody's report highlights robust economic growth momentum amid inflation challengesIndia's economy is experiencing robust growth, projected to hit 7.2% in 2024, driven by strong consumer spending and investment. Despite recent inflation spikes due to food prices, Moody's predicts moderation and highlights India's strong economic fundamentals and resilient financial position.