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The Reserve Bank of India may intervene in the foreign exchange market to stabilize the Indian rupee, influencing reserves. Fluctuations in commodity prices, interest rates, and international trade dynamics can affect reserves.
The foreign exchange reserves of India are holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India's national currency, the Indian rupee. The foreign-exchange reserves are managed by the Reserve Bank of India (RBI) for the Indian government , and the main component is foreign currency assets.
The accumulated funds may have their origin in, or may represent, foreign currency deposits, foreign exchange reserves, gold, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve position held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other ...
Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets such as gold and silver held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets.
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The Ministry of Finance monitors and regulates them through ECB policy guidelines issued by the Reserve Bank of India (RBI) under the Foreign Exchange Management Act of 1999. [358] India's foreign exchange reserves have steadily risen from $5.8 billion in March 1991 to ₹38,832.21 billion (US$540 billion) in July 2020.
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The percental composition of currencies of official foreign exchange reserves from 1995 to 2022. [ 1 ] [ 2 ] [ 3 ] Graphs are unavailable due to technical issues.