India&rsquo;s foreign exchange reserves continued their upward trend, rising by $2.29 billion to $698.95 billion for the week ending June 13, according to data released by the Reserve Bank of India (RBI) on Friday.
This follows a sharp increase of $5.17 billion in the previous week, bringing the total fortnightly surge to nearly $7.5 billion. The reserves are now approaching the all-time high of $704.89 billion recorded at the end of September 2023.
Breakdown of Components:
<ul>
<li dir="ltr" style="font-family: georgia, palatino, serif; font-size: 12pt;" aria-level="1">
Foreign Currency Assets (FCA): Rose by $1.73 billion to $589.42 billion 
</li>
<li dir="ltr" style="font-family: georgia, palatino, serif; font-size: 12pt;" aria-level="1">
Gold Reserves: Increased by $428 million to $86.32 billion 
</li>
<li dir="ltr" style="font-family: georgia, palatino, serif; font-size: 12pt;" aria-level="1">
Special Drawing Rights (SDRs): Up $85 million to $18.76 billion 
</li>
<li dir="ltr" style="font-family: georgia, palatino, serif; font-size: 12pt;" aria-level="1">
IMF Reserve Position: Gained $43 million to reach $4.45 billion 
</li>
</ul>
The RBI noted a growing share of gold in its forex reserves, almost doubling since 2021, as central banks globally stockpile gold amid rising geopolitical uncertainty.
RBI Governor Sanjay Malhotra recently stated that India&rsquo;s reserves are robust enough to cover more than 11 months of goods imports and nearly 96% of its external debt.
He added, &ldquo;India&rsquo;s external sector remains resilient. The increase in reserves strengthens our ability to meet external financing needs and provides greater stability to the rupee.&rdquo;
A strong forex reserve position allows the RBI to effectively intervene in currency markets to cushion the rupee from excessive volatility.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]

India’s Forex Reserves Rise to $698.95 Billion

 Reserves climb by $2.29 billion; gold, SDRs, and IMF position also register weekly gains

India’s Forex Reserves Rise to $698.95 Billion

Reserves climb by $2.29 billion; gold, SDRs, and IMF position also register weekly gains

June 21, 2025 | 24:00 IST