India’s foreign exchange reserves fell by $8.58 billion to $726.03 billion in the week ended October 9. This marks the fifth consecutive weekly decline, bringing reserves nearly $59.68 billion below their record high of $785.71 billion recorded on September 4.
The decline was mainly driven by a fall in foreign currency assets and gold reserves. Foreign currency assets dropped by $7.14 billion to $597.61 billion, while gold reserves decreased by $1.32 billion to $105.09 billion.
The Reserve Bank of India’s intervention in the foreign exchange market to manage rupee volatility is one factor behind the decline. Changes in the value of foreign currencies and gold also affect total reserves. Despite the recent fall, India continues to hold a substantial foreign exchange buffer.
Key Points
- Forex reserves fell to $726.03 billion.
- Reserves declined by nearly $59.68 billion from their September peak.
- Foreign currency assets and gold reserves recorded significant falls.
Why It Matters: Forex reserves help India meet external payment obligations and manage currency-market volatility. Their movement is important for tracking the country’s external financial position.
India ke foreign exchange reserves 9 October ko khatam hue week mein $8.58 billion girkar $726.03 billion ho gaye. Yeh lagataar fifth weekly decline hai. Iske saath hi reserves 4 September ko record high $785.71 billion se lagbhag $59.68 billion neeche aa gaye hain.
Is decline ki main wajah foreign currency assets aur gold reserves mein girawat hai. Foreign currency assets $7.14 billion girkar $597.61 billion ho gaye, jabki gold reserves $1.32 billion girkar $105.09 billion par aa gaye.
Rupee mein volatility ko control karne ke liye Reserve Bank of India (RBI) ka foreign exchange market mein intervention bhi reserves mein girawat ka ek factor hai. Foreign currencies aur gold ki value mein changes bhi total reserves ko affect karte hain.
Recent decline ke baad bhi, India ke paas abhi bhi ek substantial foreign exchange reserve buffer hai.
Key Points
- Forex reserves girkar $726.03 billion ho gaye.
- September ke record high se reserves lagbhag $59.68 billion neeche hain.
- Foreign currency assets aur gold reserves dono mein girawat aayi hai.
Why It Matters: Forex reserves India ko international payments manage karne aur currency market mein volatility ka saamna karne mein help karte hain. Inmein changes country ki external financial position ko samajhne ke liye important hain.