The reserves had surged by $1.48 billion to $695.10 billion for the week ending August 15; whereas it had touched a report excessive of $704.885 billion in end-September 2024.
For the week ended August 15, international foreign money belongings (FCAs) — the biggest part of the reserves — declined by $3.65 billion to $582.25 billion, the RBI information confirmed. In greenback phrases, FCAs additionally replicate the affect of actions in non-US currencies such because the euro, pound and yen held within the reserves.
Gold reserves had been up/down by $665 million, standing at $66.58 billion through the reporting week. In the meantime, SDRs within the final week additionally dropped by $46 million to succeed in at $18.73 billion.
India's reserve place with the Worldwide Financial Fund (IMF) was down by $23 million at $4.73 billion, as per the info
The RBI, now and again, intervenes within the foreign exchange market by liquidity operations — together with the sale of {dollars} — to curb sharp volatility within the rupee. Officers emphasize that such interventions are geared toward sustaining orderly market situations somewhat than concentrating on a selected alternate price degree or band.
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