Foreign Exchange Reserves of India

FOREIGN EXCHANGE RESERVES

INDIA
November 30, 2018
393.718
(Billion US Dollars)
   USD 932.80 million
        (from Nov 23, 2018)

FOREIGN EXCHANGE RESERVES
Trend

DATE
AMOUNT
CHANGE
Nov 30, 2018
393.718
0.24%
Nov 23, 2018
392.785
0.20%
Nov 16, 2018
393.580
0.15%
Nov 09, 2018
393.011
0.03%
Nov 02, 2018
393.133
0.27%
Oct 26, 2018
392.079
0.37%
(Billion US Dollars)

GOLD RESERVES OF INDIA

30 November 2018
21.15
Billion US Dollar

Chart of Current Foreign Exchange Reserves of India

Source: Reserve Bank Of India

India's Forex Reserves

The Foreign Exchange Reserves of India stood at 393.718 Billion US Dollar as on November 30, 2018.

This represents an increase in the Foreign Exchange Reserve by USD 932.80 million from last week i.e. Nov 23, 2018.

In the 52 week period, the Foreign Exchange Reserves of India touched a high of USD 426.082 Billion on Apr 13, 2018 and recorded a low of USD 392.079 Billion on Oct 26, 2018.

Meanwhile, the Gold Reserves of India stood at USD 21.15 Billion US Dollar as on Nov 30, 2018. The Reserve Bank of India (RBI) reported that the Foreign Currency Assets stood at 368.49 US Billion Dollar, the Reserve Trench position at 2.63 US Billion Dollar, SDRs (Special Drawing Rights with the IMF) at 1.45 US Billion Dollar as on Nov 30, 2018.

India's Forex Comparision

Current Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
393.72
Nov 2018
392.08
Oct 2018
400.74
Nov 2017
291.30
Nov 2013
247.69
Nov 2008
Billion US Dollar

What is Foreign Exchange Reserves?

Foreign exchange reserves (also called forex reserves or FX reserves) is foreign currency or other assets held by a central bank or Government.

The main purpose of holding foreign Reserves is that the Central Bank can pay if need be its liabilities, such as the currency issued by the central bank, as well as the various bank reserves deposited with the central bank by the government and other financial institutions. The higher the reserves, the higher is the capacity of the central bank to smooth the volatility of the Balance of Payments.


Foreign Exchange Reserves Composition

Foreign Exchange Reserves include:

  1. Foreign Currency Reserves held in US Dollars, Euro, British Pound or Japanese Yen.
  2. Gold Reserves.
  3. International Monetary Fund Reserve Trench Positions.
  4. Special Drawing Rights (SDRs). SDR represents aclaim to foreign currencies for which it may be exchanged.

  • Our foreign-exchange reserves when I took over were no more than a billion dollars; that is, roughly equal to two weeks' imports.

  • ~ Manmohan Singh


Foreign Reserve Trend of India

 
Historical Graph

In India, The Reserve Bank of India the is the custodian of India’s foreign exchange reserves and is responsible for maintaining and managing the country’s foreign exchange reserves.

Foreign exchange reserves facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India. One benefit of keeping large amount of foreign reserve is that India can effectively handle the situation such as oil shocks or global recession.


External Links

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Historical Foreign Exchange Reserve

Select Date
USD (Million) Rs (Billion)
Foreign Currency Assets
Gold
Reserve Tranch Position
SDRs
TOTAL FOREIGN RESERVES
DATE
 
RESERVES
(Billion Dollars)
CHANGE
(Million Dollars)
Nov 30, 2018 393.72 932.80
Nov 23, 2018 392.79 795.00
Nov 16, 2018 393.58 568.90
Nov 09, 2018 393.01 121.20
Nov 02, 2018 393.13 1053.80
Oct 26, 2018 392.08 1444.80
Oct 19, 2018 393.52 942.00
Oct 12, 2018 394.47 5143.80
Oct 05, 2018 399.61 915.80
Sep 28, 2018 400.53 1265.20
Sep 21, 2018 401.79 1300.70
Sep 14, 2018 400.49 1207.20
Sep 07, 2018 399.28 819.50
Aug 31, 2018 400.10 1191.40
Aug 24, 2018 401.29 445.40
Aug 17, 2018 400.85 33.20
Aug 10, 2018 400.88 1822.30
Aug 03, 2018 402.70 1489.10