India’s Forex Reserves Jump $14.17 Billion to $701.36 Billion: RBI Data
India’s foreign exchange reserves rose by $14.167 billion to $701.36 billion in the week ended January 16, according to the Reserve Bank of India (RBI). In the previous week, overall reserves had increased by $392 million to $687.193 billion.
Gold reserves saw a notable rise, climbing by $4.623 billion to $117.454 billion during the same period.
Foreign currency assets (FCAs), the largest component of the reserves, jumped $9.652 billion to $560.518 billion. These figures account for the impact of exchange rate movements in non-US currencies such as the euro, pound, and yen.
Meanwhile, special drawing rights (SDRs) fell slightly by $35 million to $18.704 billion, and India’s reserve position with the IMF decreased by $73 million to $4.684 billion.
India’s forex reserves had previously reached an all-time high of $704.89 billion in September 2024 but have faced pressure recently due to interventions to stabilize the rupee. The price of gold, a key safe-haven asset, has surged in recent months amid global uncertainties and strong investment demand.
After its latest monetary policy review, the RBI noted that India’s forex reserves are sufficient to cover more than 11 months of merchandise imports, highlighting the resilience of the country’s external sector.
In context, India added around $58 billion to its reserves in 2023, following a cumulative decline of $71 billion in 2022. In 2024, reserves rose by just over $20 billion, and so far in 2025, the forex kitty has increased by approximately $47-48 billion.
Foreign exchange reserves are assets held by a country’s central bank, primarily in foreign currencies like the US dollar, with smaller portions in the euro, Japanese yen, and pound sterling.
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