India’s foreign exchange reserves rose by $4.5 billion to hit a seven month-peak of $690.6 billion as of May 9, according to data released by the central bank on Friday.
The reserves have risen by around $56 billion over 2025 so far, and are now about $14 billion below the all-time high of $704.9 billion hit in late September 2024.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves.
For the week ended May 9, the rupee declined by 0.9% pressured by an intensification of the India-Pakistan conflict. The two nuclear-armed neighbors announced a ceasefire on May 10.
The rupee USDINR closed at 85.5050 on Friday, down 0.1% on the week in the face of persistent dollar bids from local companies and foreign banks.
Foreign exchange reserves include India’s Reserve Tranche position in the International Monetary Fund.
FOREIGN EXCHANGE RESERVES (in million U.S. dollars) |
||
May 9, 2025 |
May 2, 2025 |
|
Foreign currency assets |
581,373 |
581,177 |
Gold |
86,337 |
81,820 |
SDRs |
18,532 |
18,558 |
Reserve Tranche Position |
4,374 |
4,509 |
Total |
690,617 |
686,064 |
Source text: (https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx)
((India Headline News Team; +91 80 6749 1310))