Foreign Exchange Reserves of India

FOREIGN EXCHANGE RESERVES

INDIA
May 22, 2020
490.044
(Billion US Dollars)
   USD 3,004.70 million
        (from May 15, 2020)

FOREIGN EXCHANGE RESERVES
Trend

DATE
AMOUNT
CHANGE
May 22, 2020
490.044
0.62%
May 15, 2020
487.039
0.36%
May 08, 2020
485.313
0.88%
May 01, 2020
481.078
0.34%
Apr 24, 2020
479.455
0.02%
Apr 17, 2020
479.568
0.65%
(Billion US Dollars)

GOLD RESERVES OF INDIA

22 May 2020
32.78
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 490.044 Billion US Dollar as on May 22, 2020.

This represents an increase in the Foreign Exchange Reserve by USD 3,004.70 million from last week i.e. May 15, 2020.

In the 52 week period, the Foreign Exchange Reserves of India touched a high of USD 490.044 Billion on May 22, 2020 and recorded a low of USD 421.868 Billion on May 31, 2019.

Meanwhile, the Gold Reserves of India stood at USD 32.78 Billion US Dollar as on May 22, 2020. The Reserve Bank of India (RBI) reported that the Foreign Currency Assets stood at 451.71 US Billion Dollar, the Reserve Trench position at 4.13 US Billion Dollar, SDRs (Special Drawing Rights with the IMF) at 1.43 US Billion Dollar as on May 22, 2020.

India's Forex Comparision

Current Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
490.04
May 2020
479.57
Apr 2020
418.00
May 2019
351.56
May 2015
273.36
May 2010
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 451,705.59 3,430,708.42
Gold 32,778.81 248,955.39
Reserve Tranch Position 4,127.17 31,278.48
SDRs 1,432.04 10,876.36
TOTAL FOREIGN RESERVES 490,043.61 3,721,818.65
DATE
 
RESERVES
(Billion Dollars)
CHANGE
(Million Dollars)
May 22, 2020 490.04 3004.70
May 15, 2020 487.04 1726.38
May 08, 2020 485.31 4234.96
May 01, 2020 481.08 1622.29
Apr 24, 2020 479.46 112.67
Apr 17, 2020 479.57 3092.85
Apr 10, 2020 476.48 1815.23
Apr 03, 2020 474.66 901.52
Mar 27, 2020 475.56 5652.70
Mar 20, 2020 469.91 11982.97
Mar 13, 2020 481.89 5345.74
Mar 06, 2020 487.24 5697.09
Feb 28, 2020 481.54 5418.58
Feb 21, 2020 476.12 29.43
Feb 14, 2020 476.09 3091.23
Feb 07, 2020 473.00 1701.49
Jan 31, 2020 471.30 4607.06
Jan 24, 2020 466.69 4535.14