What is 'Foreign Exchange Reserves'

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• RBI’s forex reserves fall $4.8 bn to $670 bn in week ended August 9The Reserve Bank of India’s foreign exchange reserves decreased by $4.8 billion, reaching $670.12 billion in the week ending August 9, driven by a decline in foreign currency assets. The rupee weakened against the US dollar, closing at 83.95. The RBI’s gold reserves also fell by $860 million during the same period.
• India's forex reserves drop $4.8 bn from an all-time high, settling at $670.12 bn as of Aug 9India’s foreign exchange reserves decreased by $4.8 billion, hitting $670.12 billion for the week ending August 9. Foreign currency assets saw a decline of $4.079 billion, and gold reserves fell by $860 million. However, SDRs and the IMF reserve position experienced slight increases. The Reserve Bank of India continues to monitor and intervene in the market for stability.
• India's forex reserves touch a fresh high of $674.9 bn as of Aug 2India's foreign exchange reserves reached a new high of $674.9 billion for the week ending August 2, 2024, according to the Reserve Bank of India (RBI). The reserves increased by $7.5 billion, driven mainly by a $5.1 billion rise in foreign currency assets.
• India's forex reserves touch a fresh high of $674.9 bn as of Aug 2India's foreign exchange reserves reached a new high of $674.9 billion for the week ending August 2, 2024, according to the Reserve Bank of India (RBI). The reserves increased by $7.5 billion, driven mainly by a $5.1 billion rise in foreign currency assets.
• Global stock sell-off pushes Indian rupee to record lowThe Indian rupee fell to a record low of 83.75 against the U.S. dollar amid a global equity sell-off and geopolitical tensions. Weak U.S. factory data and local equities' downturn contributed to the decline, while RBI interventions mitigated further drops.
• Ten years of UPA government was a failed experiment, says Trade Minister Piyush GoyalOn Tuesday, Commerce and Industry Minister Piyush Goyal sharply criticized former Finance Minister P. Chidambaram and the UPA-led government, blaming them for the deteriorating economic conditions during their tenure. Goyal highlighted that under the UPA, the country faced high fiscal deficits, inflation, and low growth, with the economy weakening from a growth rate of over 8% in 2004 to around 4.4%.
• Rupee hits record low against dollar amid global strength, equity outflowsThe rupee closed at record low levels against the US dollar on Wednesday due to strengthening in the dollar index globally driving down Emerging market currency and likely equity outflows.
• China rate cut sends rupee to record intraday lowThe rupee on Monday touched a record low intraday level versus the US dollar as a weaker Chinese yuan dragged Asian units lower, with likely interventions by the Reserve Bank of India reining in weakness in the local currency, whose valuation has become pricier, dealers said.
• India's forex reserves jump to a new record high of $666.85 bn as on July 12India's forex reserves reached an all-time high of $666.85 billion as of July 12, according to data from the Reserve Bank of India. Foreign currency assets (FCAs) also increased by $8.36 billion to $5585.47 billion. Gold reserves expanded by $1.23 billion to $58.66 billion, while SDRs increased by $76 million to $18.11 billion.
• India's forex reserves hit an all-time high of $657.16 bnIndia's foreign exchange reserves reached a record high of $657.16 billion as of July 5, marking a significant increase of $5.16 billion from the previous week. This surge was driven by a rise in Foreign Currency Assets (FCAs), which grew by $42.29 billion to $577.11 billion. FCAs include holdings in currencies like the euro, pound, and yen, adjusted for their exchange rate fluctuations against the US dollar.