Foreign Exchange Reserves of India

FOREIGN EXCHANGE RESERVES

INDIA
January 18, 2019
396.681
(Billion US Dollars)
   USD 671.00 million
        (from Jan 11, 2019)

FOREIGN EXCHANGE RESERVES
Trend

DATE
AMOUNT
CHANGE
Jan 18, 2019
396.681
0.17%
Jan 11, 2019
397.352
0.32%
Jan 04, 2019
396.085
0.68%
Dec 28, 2018
393.404
0.03%
Dec 21, 2018
393.288
0.04%
Dec 14, 2018
393.121
0.15%
(Billion US Dollars)

GOLD RESERVES OF INDIA

18 January 2019
21.84
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 396.681 Billion US Dollar as on January 18, 2019.

This represents a decrease in the Foreign Exchange Reserve by USD 671.00 million from last week i.e. Jan 11, 2019.

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 21.84 Billion US Dollar as on Jan 18, 2019. The Reserve Bank of India (RBI) reported that the Foreign Currency Assets stood at 370.73 US Billion Dollar, the Reserve Trench position at 2.64 US Billion Dollar, SDRs (Special Drawing Rights with the IMF) at 1.47 US Billion Dollar as on Jan 18, 2019.

India's Forex Comparision

Current Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
396.68
Jan 2019
393.12
Dec 2018
413.83
Jan 2018
292.08
Jan 2014
252.18
Jan 2009
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)
Jan 18, 2019 396.68 671.00
Jan 11, 2019 397.35 1266.90
Jan 04, 2019 396.08 2680.30
Dec 28, 2018 393.40 116.40
Dec 21, 2018 393.29 167.20
Dec 14, 2018 393.12 613.90
Dec 07, 2018 393.73 16.60
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