India forex reserves climb to $695.1 billion: FX assets rise $1.48 billion in week ended August 15; gold holdings fall

NEW DELHI: India’s foreign exchange reserves rose by $1.48 billion to $ 695.10 billion in the week ended August 15, driven primarily by gains in foreign currency assets (FCA), according to the Reserve Bank of India’s (RBI) latest ‘Weekly Statistical Supplement.’Foreign currency assets, the largest component of India’s forex reserves, increased by $1.92 billion to $585.90 billion. In contrast, gold reserves declined by $2.16 billion to $86.16 billion.India’s special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $41 million to $18.782 billion, while the country’s reserve position with the IMF edged up $ 15 million to $4.754 billion, reported ANI, citing the report.In the preceding week ended August 8, India’s forex reserves had jumped $4.747 billion to $693.618 billion, supported by gains in both FCA and gold holdings.Following the latest monetary policy review, RBI Governor Sanjay Malhotra said the country’s foreign exchange kitty was sufficient to cover 11 months of imports, highlighting the central bank’s strong buffer against external shocks.

India adds $53 billion to FX reserves in 2025

So far in 2025, India has added about $ 53 billion to its forex reserves, following a rise of slightly over $20 billion in 2024. In 2023, reserves expanded by nearly $58 billion, in contrast to a sharp decline of $71 billion in 2022.Foreign exchange reserves, or FX reserves, are assets held by the RBI in major currencies such as the US dollar, euro, Japanese yen, and pound sterling. The RBI actively manages the reserves by buying dollars when the rupee strengthens and selling them when it weakens, helping to curb volatility and maintain liquidity in the currency market.