Foreign Exchange Reserves of India

FOREIGN EXCHANGE RESERVES

INDIA
May 17, 2019
417.998
(Billion US Dollars)
   USD 2.00 million
        (from May 10, 2019)

FOREIGN EXCHANGE RESERVES
Trend

DATE
AMOUNT
CHANGE
May 17, 2019
417.998
0.49%
May 10, 2019
420.055
0.33%
May 03, 2019
418.687
0.04%
Apr 26, 2019
418.515
1.06%
Apr 19, 2019
414.147
0.18%
Apr 12, 2019
414.886
0.27%
(Billion US Dollars)

GOLD RESERVES OF INDIA

17 May 2019
23.02
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 417.998 Billion US Dollar as on May 17, 2019.

This represents a decrease in the Foreign Exchange Reserve by USD 2,057.10 million from last week i.e. May 10, 2019.

In the 52 week period, the Foreign Exchange Reserves of India touched a high of USD 420.055 Billion on May 10, 2019 and recorded a low of USD 392.079 Billion on Oct 26, 2018.

Meanwhile, the Gold Reserves of India stood at USD 23.02 Billion US Dollar as on May 17, 2019. The Reserve Bank of India (RBI) reported that the Foreign Currency Assets stood at 390.20 US Billion Dollar, the Reserve Trench position at 3.33 US Billion Dollar, SDRs (Special Drawing Rights with the IMF) at 1.44 US Billion Dollar as on May 17, 2019.

India's Forex Comparision

Current Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
418.00
May 2019
414.89
Apr 2019
417.70
May 2018
314.93
May 2014
254.21
May 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 390,197.40 27,378.80
Gold 23,021.60 1,607.80
Reserve Tranch Position 3,334.70 234.00
SDRs 1,444.50 101.40
TOTAL FOREIGN RESERVES 417,998.20 29,322.00
DATE
 
RESERVES
(Billion Dollars)
CHANGE
(Million Dollars)
May 17, 2019 418.00 2057.10
May 10, 2019 420.06 1368.10
May 03, 2019 418.69 171.90
Apr 26, 2019 418.52 4368.10
Apr 19, 2019 414.15 739.20
Apr 12, 2019 414.89 1105.20
Apr 05, 2019 413.78 1876.20
Mar 29, 2019 411.91 5237.50
Mar 22, 2019 406.67 1029.10
Mar 15, 2019 405.64 3602.90
Mar 08, 2019 402.04 258.80
Mar 01, 2019 401.78 2559.50
Feb 22, 2019 399.22 944.70
Feb 15, 2019 398.27 150.20
Feb 08, 2019 398.12 2119.30
Feb 01, 2019 400.24 2063.20
Jan 25, 2019 398.18 1497.90
Jan 18, 2019 396.68 671.00