Forex Reserves

In the week to Jan. 13, the reserves stood at $572 billion. The RBI has intervened to buy dollars as the Indian rupee has stabilised, according to forex market participants.

That is higher than the country's reserves of $561.58 billion for the week ended Jan. 6, and the more-than-two-year low of $524.52 billion hit in October 2022.

For the week ended December 30, the country's reserves were at $562.85 billion, down from $633.61 billion at the end of 2021. The RBI has been intervening in the spot and forwards market to protect the rupee and prevent a rapid depreciation.

Forex traders said the weakness of the greenback in the overseas market, strong Asian peers and suspected intervention by the Reserve Bank of India (RBI) also helped the currency.

The overall reserves had dropped by $571 million to $563.499 billion in the previous reporting week. The reserves had been declining as the central bank deployed the reserve to defend the rupee amid pressures caused majorly by global developments.

Overall, the foreign exchange reserves have declined from $632.7 billion at the beginning of this year. The Reserve Bank of India has been intervening in the spot and forwards market to protect the rupee and prevent a rapid depreciation.

Rupee Today: The rupee crashed against the dollar on Thursday after the Federal Reserve projected higher for longer interest rates.

Rupee Today: The rupee sagged with the dollar on Thursday after the Federal Reserve took a hawkish stance.

"Through this episode of US dollar appreciation, the rupee's movements have been the least disruptive, relative to peers," the RBI Governor said.

Rupee Today: The rupee trades only a touch weaker ahead of the RBI's policy decision on Wednesday as oil prices tumbled on demand concerns.

RBI Monetary Policy: The Reserve Bank of India (RBI) is widely seen raising its key lending rate by 35 basis points on Wednesday.

Since hitting an over two-year low of $524 billion in October, forex reserves have been rising as the dollar index fell off its peak.

Forex traders said investors will focus on the US Federal Reserve Chairman Jerome Powell's speech and the release of key domestic macro economic data for further cues.

It was a volatile week for rupee, as sharp moves brought it back to trade in the 81-per-dollar-handle from near 80.50.

Reserve Bank Deputy Governor Michael Patra today said that formulating monetary policy is a challenging task in a volatile environment like the current one, given lagged data inputs, which are also frequently reviewed.

In the week to Jan. 13, the reserves stood at $572 billion. The RBI has intervened to buy dollars as the Indian rupee has stabilised, according to forex market participants.

That is higher than the country's reserves of $561.58 billion for the week ended Jan. 6, and the more-than-two-year low of $524.52 billion hit in October 2022.

For the week ended December 30, the country's reserves were at $562.85 billion, down from $633.61 billion at the end of 2021. The RBI has been intervening in the spot and forwards market to protect the rupee and prevent a rapid depreciation.

Forex traders said the weakness of the greenback in the overseas market, strong Asian peers and suspected intervention by the Reserve Bank of India (RBI) also helped the currency.

The overall reserves had dropped by $571 million to $563.499 billion in the previous reporting week. The reserves had been declining as the central bank deployed the reserve to defend the rupee amid pressures caused majorly by global developments.

Overall, the foreign exchange reserves have declined from $632.7 billion at the beginning of this year. The Reserve Bank of India has been intervening in the spot and forwards market to protect the rupee and prevent a rapid depreciation.

Rupee Today: The rupee crashed against the dollar on Thursday after the Federal Reserve projected higher for longer interest rates.

Rupee Today: The rupee sagged with the dollar on Thursday after the Federal Reserve took a hawkish stance.

"Through this episode of US dollar appreciation, the rupee's movements have been the least disruptive, relative to peers," the RBI Governor said.

Rupee Today: The rupee trades only a touch weaker ahead of the RBI's policy decision on Wednesday as oil prices tumbled on demand concerns.

RBI Monetary Policy: The Reserve Bank of India (RBI) is widely seen raising its key lending rate by 35 basis points on Wednesday.

Since hitting an over two-year low of $524 billion in October, forex reserves have been rising as the dollar index fell off its peak.

Forex traders said investors will focus on the US Federal Reserve Chairman Jerome Powell's speech and the release of key domestic macro economic data for further cues.

It was a volatile week for rupee, as sharp moves brought it back to trade in the 81-per-dollar-handle from near 80.50.

Reserve Bank Deputy Governor Michael Patra today said that formulating monetary policy is a challenging task in a volatile environment like the current one, given lagged data inputs, which are also frequently reviewed.