India's FX reserves rise $6.99 bln on week to $692.72 bln as of May 23
This story was originally published at 18:05 IST on 30 May 2025
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--RBI: India May 23 FX reserves $692.72 bln, up $6.99 bln on week
MUMBAI – India's foreign exchange reserves rose $6.99 billion on week to $692.72 billion as on May 23, data from the Reserve Bank of India showed Friday. This is the highest foreign exchange reserves since Oct. 4, when it was $701.18 billion.
The central bank's gold holdings were up $2.37 billion on week to $83.58 billion as of May 23. Foreign currency assets as of May 23 were $586.17 billion, up by $4.52 billion from a week ago. Calculated in dollar terms, the RBI's foreign exchange reserves also reflect the impact of appreciation or depreciation of currencies other than the US dollar, such as the euro, the pound sterling, and the yen, held by the central bank.
The dollar index, which measures the strength of the greenback against a basket of six major currencies, fell 1.9% on week to 99.10 as of May 23. Consequently, other major currencies strengthened against the US dollar. The Japanese yen strengthened 2.1% against the US dollar in the week to May 23, while the euro and the pound sterling rose 1.8% and 1.9%, respectively, against the US currency. End
Reported by Sourabh Kumar
Edited by Saji George Titus
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