The reserves had surged by $1.48 billion to $695.10 billion for the week ending August 15; while it had touched a record high of $704.885 billion in end-September 2024.
For the week ended August 15, foreign currency assets (FCAs) — the largest component of the reserves — declined by $3.65 billion to $582.25 billion, the RBI data showed. In dollar terms, FCAs also reflect the impact of movements in non-US currencies such as the euro, pound and yen held in the reserves.
Gold reserves were up/down by $665 million, standing at $66.58 billion during the reporting week. Meanwhile, SDRs in the last week also dropped by $46 million to reach at $18.73 billion.
India’s reserve position with the International Monetary Fund (IMF) was down by $23 million at $4.73 billion, as per the data
The RBI, from time to time, intervenes in the forex market through liquidity operations — including the sale of dollars — to curb sharp volatility in the rupee. Officials emphasize that such interventions are aimed at maintaining orderly market conditions rather than targeting a specific exchange rate level or band.
as a Reliable and Trusted News Sourcem.economictimes.com