RBI's Reports says India’s Forex Reserves Rise by $5.5 Billion, reached $629.55 Billion

The International Monetary Fund (IMF) reserves remained unchanged at $4.1 billion.

RBI's Reports says India’s Forex Reserves Rise by $5.5 Billion, reached $629.55 Billion
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Mumbai, January 31, 2025 – India’s foreign exchange reserves witnessed a significant increase, rising by $5.5 billion to reach $629.55 billion for the week ending January 24, 2025, according to the latest data released by the Reserve Bank of India (RBI) on Friday. The uptick reflects the country’s improving economic fundamentals and strong capital inflows.

As on January 24, 2025 the Total Reserves are $629.557 billion.

Foreign currency assets were the main contributors to this growth, rising by $4.7 billion to reach $537.89 billion. Gold reserves also increased, standing at $69.65 billion during the same period, according to data from the central bank.

The Reserve Bank of India's (RBI) Weekly Statistical Supplement revealed a slight rise in Special Drawing Rights (SDRs), which reached $17.86 billion. In contrast, the country's forex reserves had declined by $1.8 billion in the week ending January 17, 2025, settling at $623.98 billion.

The International Monetary Fund (IMF) reserves remained unchanged at $4.1 billion.

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With India’s economy expected to grow steadily, foreign exchange reserves are likely to remain robust in the coming months. The Reserve Bank of India’s consistent efforts to maintain macroeconomic stability and attract foreign investments are set to further strengthen the reserves.

Economists have noted that while the increase in reserves is a positive indicator, continued vigilance is required to manage external vulnerabilities, such as global oil price volatility and geopolitical uncertainties.

As India navigates the global economic landscape, its rising foreign exchange reserves stand as a testament to the resilience and strength of its economic policies and fundamentals.

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