Foreign Exchange Reserves of India

FOREIGN EXCHANGE RESERVES

INDIA
October 05, 2018
399.609
(Billion US Dollars)
   USD 915.80 million
        (from Sep 28, 2018)

FOREIGN EXCHANGE RESERVES
Trend

DATE
AMOUNT
CHANGE
Oct 05, 2018
399.609
0.23%
Sep 28, 2018
400.525
0.32%
Sep 21, 2018
401.790
0.32%
Sep 14, 2018
400.490
0.30%
Sep 07, 2018
399.282
0.20%
Aug 31, 2018
400.102
0.30%
(Billion US Dollars)

GOLD RESERVES OF INDIA

05 October 2018
20.45
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 399.609 Billion US Dollar as on October 05, 2018.

This represents a decrease in the Foreign Exchange Reserve by USD 915.80 million from last week i.e. Sep 28, 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 398.739 Billion on Nov 03, 2017.

Meanwhile, the Gold Reserves of India stood at USD 20.45 Billion US Dollar as on Oct 05, 2018. The Reserve Bank of India (RBI) reported that the Foreign Currency Assets stood at 375.23 US Billion Dollar, the Reserve Trench position at 2.46 US Billion Dollar, SDRs (Special Drawing Rights with the IMF) at 1.47 US Billion Dollar as on Oct 05, 2018.

India's Forex Comparision

Current Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
399.61
Oct 2018
400.10
Aug 2018
399.66
Sep 2017
277.73
Oct 2013
283.94
Oct 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)
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
Jul 27, 2018 404.19 950.90
Jul 20, 2018 405.14 67.70
Jul 13, 2018 405.08 734.50
Jul 06, 2018 405.81 248.20
Jun 29, 2018 406.06 1757.20
Jun 22, 2018 407.82 2254.50
Jun 15, 2018 410.07 3039.80
Jun 08, 2018 413.11 879.50