Forex kitty rises by $305 million to $654.271 billion, shows RBI data

The country’s currency reserves grew by $305 million to $654.271 billion during the week ending March 14, the RBI reported on Friday.  In the preceding reporting week, the total reserves climbed by $15.267 billion to $653.966 billion and represented the biggest weekly growth in two years. The Reserve Bank of India’s $10 billion FX swap was partially responsible for the increase in foreign reserves.

Due to revaluation and RBI interventions in the foreign exchange market to assist lower rupee volatility, the reserves have been trending downward recently. The forex reserves increased to an all-time high of $704.885 billion in September 2024.

According to figures released Friday, foreign currency assets, a significant component of the reserves, fell $96 million to $557.186 billion for the week ending March 14. The effect of the appreciation or depreciation of non-US units such as the euro, pound, and yen held in the foreign exchange reserves is included in the foreign currency assets, which are expressed in dollar terms.

According to the RBI, gold reserves rose $66 million to $74.391 billion throughout the course of the week.


According to the apex bank, the Special Drawing Rights (SDRs) increased by $51 million to $18.262 billion. According to apex bank statistics, India’s reserve position with the IMF increased by $283 million to $4.431 billion during the reporting week.