Forex reserves rise by $14 billion; stock climbs to $701.36 billion: RBI

With India’s foreign exchange reserves rebounding sharply during the week, the country’s overall forex buffer rose by $14.167 billion to $701.36 billion in the week ended January 16, RBI data showed on Friday.

The increase follows a relatively modest rise of $392 million in the previous week, when total reserves had edged up to $687.193 billion.

While reserves had touched an all-time high of $704.89 billion in September 2024, they have faced pressure in recent months, particularly as currency buffers were deployed to check undue volatility in the rupee.

Foreign currency assets (FCAs), the largest component of the reserves, increased by $9.652 billion to $560.518 billion during the reporting week, according to RBI data.




Expressed in dollar terms, FCAs reflect the impact of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves also recorded a sharp rise, increasing by $4.623 billion to $117.454 billion during the week, the central bank said.

The value of Special Drawing Rights declined by $35 million to $18.704 billion, while India’s reserve position with the International Monetary Fund fell by $73 million to $4.684 billion in the reporting week, RBI data showed.