India’s foreign exchange reserves remained largely unchanged at $594.86 billion as of August 25, data from the Reserve Bank of India (RBI) showed on Friday, September 1.
Forex reserves fell by a marginal $30 million for the week, compared to a $7.27 billion drop in the week ended August 18, according to the central bank’s data. The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in RBI reserves.
The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the Reserve Bank of India’s (RBI) reserves.
The forex reserves include India’s Reserve Tranche position in the International Monetary Fund (IMF). The RBI also intervenes in the spot and forwards markets to prevent runaway moves in the rupee.
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Updated: 01 Sep 2023, 08:39 PM IST
