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Here's an overview of the current status, historical trends, and significance of India's foreign exchange reserves. As of November 2024, India's foreign exchange reserves stand at approximately $682.13 billion.
In June 2020, India's foreign exchange reserves crossed the US$500 billion mark for the first time. [16] In June 2021, India's foreign exchange reserves crossed the US$600 billion mark for the first time. [17] [18] India's total forex reserves touched an all-time high of US$642.453 billion on 8 September 2021. [19]
Pages in category "Foreign exchange reserves" The following 11 pages are in this category, out of 11 total. ... Foreign-exchange reserves of India; I. Import ratio;
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.
Reserve Tranche Position is accounted among a country's foreign-exchange reserves. Part of the quota can be withdrawn from the IMF without any interest during critical situations of a country such as Balance of Payment (BOP) crises. This part of the money which can be withdrawn without any interest is the RTP.
From February 12 to 19, 2015, the Russian central bank spent an additional US$6.4 billion in reserves. Russian foreign reserves at this point stood at $368.3 billion, greatly below the central bank's initial forecast for 2015. Since the collapse in global oil prices in June 2014, Russian reserves have fallen by over US$100 billion. [54]
The following is a list of export product categories that were exported the most and fetched foreign currency for India. The list includes the HS Codes and the value of the product exported. The data referenced in the system do not have any legal sanctity and is for general reference only.
India's foreign exchange reserves are built through foreign capital inflows instead of a current account surplus like in the case of Russia or China. Additionally, the central bank is forced to raise interest rates in order to arrest some of the capital outflows hence reducing domestic demand and accompanying economic effects.