India's Forex Reserves Near Record High, Jump $5.17 Billion To $696.66 Billion

News18

13-06-2025

Last Updated:
India's forex reserves surge $5.17 billion to $696.656 billion as of June 6, 2025, nearing the all-time high of $704.89 billion. RBI's gold reserves rise $1.58 bn to $85.89 bn.
Forex Reserves Update: India's foreign exchange (forex) reserves surged by $5.17 billion to $696.656 billion during the week ended June 6, 2025, according to the official data announced on Friday, June 13. The forex kitty is just 1.2% away from its all-time high level of $704.89 billion, recorded in September 2024.
In the previous week ended May 30, the forex kitty had declined by $1.23 billion.
According to the latest RBI data, India's foreign currency assets (FCA), which is a major portion of forex reserves, by $3.472 billion to $587.687 billion.
The country's gold reserves also increased by $1.583 billion between May 30 and June 6 to $85.888 billion.
The share of gold maintained by the RBI in its kitty has almost doubled since 2021, as central banks globally have increasingly accumulated safe-haven gold in their forex reserves.
In 2023, India added around $58 billion to its foreign exchange reserves, contrasting with a cumulative decline of $71 billion in 2022. In 2024, the reserves rose by a little over $20 billion.
Foreign exchange reserves, or FX reserves, are assets held by a nation's central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep Rupee depreciation. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens.
Last week, RBI Governor Sanjay Malhotra said the foreign exchange kitty is sufficient to meet 11 months of the country's imports and about 96 per cent of external debt.
First Published:
June 13, 2025, 17:50 IST