India Forex Reserve News

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.

"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.

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.

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.

India's foreign exchange reserves rose to $544.72 billion in the week through Nov 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India's (RBI) weekly statistical supplement showed today.

The Reserve Bank of India (RBI) sold a net of $10.36 billion in the spot foreign exchange market in September, the central bank said in its latest monthly bulletin released today.

State Bank of India has pencilled in lower current account deficit at 3 per cent for this fiscal as against the minimum consensus of 3.5 per cent, citing rising software exports, remittances and a likely USD 5-billion jump in forex reserves via swap deals.

The big jump in India's foreign exchange reserves in the last week of October was likely fuelled by the softer dollar and changes in the central bank's forward book, economists said today.

The rupee weakened against the dollar on Wednesday, but the losses were capped by the Reserve Bank of India's intervention.

India's fast-depleting foreign exchange reserves are likely to drop more than was predicted just a month ago by end-2022 as the Reserve Bank of India will continue to shield the rupee from the dollar's strength, a Reuters poll found.

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.

"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.

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.

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.

India's foreign exchange reserves rose to $544.72 billion in the week through Nov 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India's (RBI) weekly statistical supplement showed today.

The Reserve Bank of India (RBI) sold a net of $10.36 billion in the spot foreign exchange market in September, the central bank said in its latest monthly bulletin released today.

State Bank of India has pencilled in lower current account deficit at 3 per cent for this fiscal as against the minimum consensus of 3.5 per cent, citing rising software exports, remittances and a likely USD 5-billion jump in forex reserves via swap deals.

The big jump in India's foreign exchange reserves in the last week of October was likely fuelled by the softer dollar and changes in the central bank's forward book, economists said today.

The rupee weakened against the dollar on Wednesday, but the losses were capped by the Reserve Bank of India's intervention.

India's fast-depleting foreign exchange reserves are likely to drop more than was predicted just a month ago by end-2022 as the Reserve Bank of India will continue to shield the rupee from the dollar's strength, a Reuters poll found.