India's foreign exchange reserves increase by $10.5 billion
India's foreign exchange reserves rose by $10.512 billion to reach $692.866 billion for the week ending July 31, according to data released by the Reserve Bank of India. This increase marks a significant growth for the country's forex kitty, which had previously expanded by $6.118 billion in the preceding reporting week.
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What Happened
India's foreign exchange reserves increased by $10.512 billion during the week ending July 31, bringing the total to $692.866 billion. The Reserve Bank of India reported that foreign currency assets, which constitute the largest component of the reserves, rose by $8.75 billion to $564.68 billion. Additionally, the value of gold reserves grew by $1.69 billion to $104.74 billion, while Special Drawing Rights with the International Monetary Fund increased by $48 million to $18.67 billion.
This growth follows a $6.118 billion increase in the previous reporting week. The reserves had previously reached an all-time high of $728.494 billion in February before experiencing a decline due to market interventions by the central bank to support the rupee amid regional conflicts in West Asia. The current figures represent the highest level for the reserves in over two months.
Background
The Reserve Bank of India manages the country's foreign exchange reserves to maintain stability in the external sector and support the rupee.
Standing context, compiled from public reference sources rather than from the coverage above.
Key Facts
- India's foreign exchange reserves reached $692.866 billion for the week ending July 31.Source not recorded
- The reserves increased by $10.512 billion during the reporting week.Source not recorded
- Foreign currency assets rose by $8.75 billion to $564.68 billion.Source not recorded
- Gold reserves increased by $1.69 billion to $104.74 billion.Source not recorded
- Special Drawing Rights increased by $48 million to $18.67 billion.Source not recorded
- The reserves had previously reached a record high of $728.494 billion in February 2024.Source not recorded
The Timeline4
Every article on this story, in the order it was filed. We do not rank the outlets.
7 Aug
CoverageWhat we read
Language reach
Dailies carrying this story, against the dailies we read in each language.
- English2 of 9
- Odiaଓଡ଼ିଆ1 of 2
Regional reach
Where this story reached, and where it did not. National mastheads and wire agencies circulate everywhere and are counted separately, not drawn on the map.
- None carried this
- No source registered
- 1 outlet
- 2 or more
- NorthNot carried0 of 4
- WestNot carried0 of 5
- Central IndiaNot carried0 of 1
- EastCarried1 of 5
- North-eastNot carried0 of 2
- SouthCarried1 of 10
2 of the 26 states we read have local coverage. Spread across the country, with no regional concentration. Also carried by 1 national masthead.
About This Analysis
One summary, built from every source. No single newsroom's voice.
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