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It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion

India's forex reserves jumps $3.5 bn to $599.53 bn

It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion

Rising for the second consecutive week, India's forex kitty jumped USD 3.553 billion to USD 599.529 billion for the week ended May 12, the RBI said on Friday.
The overall reserves had jumped by USD 7.196 billion to USD 595.976 billion for the previous reporting week.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
For the week ended May 12, the foreign currency assets, a major component of the reserves, increased by nearly USD 3.577 billion to USD 529.598 billion, according to the Weekly Statistical Supplement released by the RBI on Friday.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves increased by USD 38 million to USD 46.353 billion, the RBI said.
The Special Drawing Rights (SDRs) were down by USD 35 million to USD 18.413 billion, the apex bank added.
The country's reserve position with the IMF was down by USD 28 million to USD 5.164 billion in the reporting week, the apex bank data showed.

The rupee ended 0.25% higher at 82.47 per dollar this week, ending a run of six straight weeks of declines.

India's forex reserves lowest since July 2020

India's forex reserves lowest since July 2020n

The rupee ended 0.25% higher at 82.47 per dollar this week, ending a run of six straight weeks of declines.

The Reserve Bank of India's weekly statistical supplement showed that India's foreign exchange reserves fell to $524.52 billion in the week through Oct. 21 to remain at their lowest since July 2020. The rupee hit a record low of 83.29 per dollar in that turbulent week, and traders said the RBI had intervened in both the spot and forward markets to contain the slide.
The country's reserves were $528.37 billion at the end of the previous week that ended October 14.
The rupee ended 0.25% higher at 82.47 per dollar this week, ending a run of six straight weeks of declines.
Also Watch| <a href="https://www.editorji.com/business-news/rupee-to-nosedive-to-84-50-against-dollar-by-this-year-end-1666262583160">Rupee to nosedive to 84.50 against dollar by this year end?</a>

India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan on Tuesday.
"We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends. Even the European Union (EU) went to get swap lines from the Federal Reserve.
"We asked for swap lines, that is on public record, we did not get them. Only country who helped us during the taper tantrum was Japan," he said
According to RBI data, the country's foreign exchange reserves swelled by USD 1.013 billion to touch a life time high of USD 610.012 billion in the week ended July 2.Read/Watch Also: (Add Global Indicator Story here)

Rajan warns, India has no friends keep forex reserves to battle global 'tantrums'

Rajan warns, India has no friends so we must keep forex reserves to battle global 'tantrums'

Rajan's warning

Raghuram&nbsp;Rajan&nbsp;says India needs foreign exchange reserve buffer to insulate ourselves because we have no friends.&nbsp;

India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan on Tuesday.
"We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends. Even the European Union (EU) went to get swap lines from the Federal Reserve.
"We asked for swap lines, that is on public record, we did not get them. Only country who helped us during the taper tantrum was Japan," he said
According to RBI data, the country's foreign exchange reserves swelled by $1.013 billion to touch a life time high of $610.012 billion in the week ended July 2. Read/Watch Also:<a href="https://www.edtr.ai/9vcw" target="_blank"> Global economic indicators | Soaring US inflation, China's growth to halve</a>

India's foreign exchange kitty has swelled up for a record high, crossing $600 billion for the first time ever.&nbsp;As per data from the RBI forex reserves grew by $6.8 billion for the week ended June 4 putting the total at $605 billion. This record high reserve level puts India amongst the top 5 countries with the highest forex&nbsp;kitty.&nbsp;
The forex&nbsp;war chest is&nbsp;enough to cover 16 months of imports, giving India ample immunity in case of any global uncertainty. From the time the pandemic started India's forex&nbsp;reserves has grown from&nbsp; by over a $123 billion from $477 billion in March 2020 to te current level of $600 billion. In fact since 2017 when RBI&nbsp;Governor Shaktikanta Das&nbsp;took over the pace of accumulation of reserves has been steadily rising.&nbsp;

India's global immunity strengthened, forex reserves at record high of $600 billion

India ranks among the top countries in forex reserves as the kitty swells to a record $605 billion&nbsp; Please take finance ministry, rbi, nirmala sitharaman&nbsp;to this story

India's forex reserves at record high of $600 billion

<ul>
<li>India's forex reserves cross $600 billion for the first time</li>
<li>India's forex&nbsp;reserves ranked&nbsp;among top 5 globally</li>
<li>India added $6.8 billion to forex&nbsp;kitty for week ended June 4</li>
<li>India's forex&nbsp;reserve enough to cover 16 months of import&nbsp;</li>
<li>India's forex&nbsp;reserves up $123 billion during the pandemic&nbsp;</li>
</ul>

India's foreign exchange kitty has swelled up for a record high, crossing $600 billion for the first time ever.&nbsp; As per data from the RBI forex reserves grew by $6.8 billion for the week ended June 4 putting the total at $605 billion. This record high reserve level puts India amongst the top 5 countries with the highest forex&nbsp;kitty.&nbsp;
The forex&nbsp;war chest is&nbsp;enough to cover 16 months of imports, giving India ample immunity in case of any global uncertainty. From the time the pandemic started India's forex&nbsp;reserves has grown from&nbsp; by over a $123 billion from $477 billion in March 2020 to te current level of $600 billion. In fact since 2017 when RBI&nbsp;Governor Shaktikanta Das&nbsp;took over the pace of accumulation of reserves has been steadily rising.&nbsp;

forex reserves

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