India’s foreign exchange reserves rise $1.05 bln to $630.607 bln

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| Photograph Credit score: The Hindu

India’s foreign exchange reserves rose $1.05 billion to $630.607 billion for the week ended January 31, the RBI stated on Friday (February 7, 2025)

Within the earlier reporting week, the general reserves had elevated by $5.574 billion to $629.557 billion.

That is the second consecutive week of a rise within the reserves, which have in any other case been on a declining pattern for the previous couple of weeks as a result of revaluation together with foreign exchange market interventions by RBI to assist scale back volatilities within the rupee.

The foreign exchange reserves had elevated to an all-time excessive of $704.885 billion in end-September 2024.

For the week ended January 31, international forex property, a significant element of the reserves, decreased by $ 207 million to $537.684 billion, the information launched on Friday confirmed.

Expressed in greenback phrases, the international forex property embrace the impact of appreciation or depreciation of non-US models just like the euro, pound and yen held within the international change reserves.

Gold reserves elevated by $1.242 billion to $70.893 billion through the week, the Reserve Financial institution of India stated.

The Particular Drawing Rights (SDRs) have been up by $29 million to $17.889 billion, the apex financial institution stated.

India’s reserve place with the IMF was down by $14 million at $4.141 billion within the reporting week, the apex financial institution information confirmed.