India’s forex reserves up by 5.5 billion at 629.55 billion as of January 24, 2025

David Graham

3 months ago

India’s foreign exchange reserves were up by $5.5 billion to settle at $629.55 billion as of the week ending January 24, 2025, Reserve Bank of India data showed on Friday.

The country’s forex reserves had dropped by $1.8 billion for the week ending January 17, 2025 and had settled at $623.98 billion.

India’s forex kitty

The central bank releases India’s forex reserves’ data every Friday, closely monitoring the economic indicator of foreign trade.

The RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee.

The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.

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