India's forex reserves top $700 bln as of Jun 27, just shy of record high
This story was originally published at 17:48 IST on 4 July 2025
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--RBI: India Jun 27 FX reserves $702.78 bln, up $4.85 bln on week
--RBI: India Jun 27 FX assets $594.82 bln, up $5.75 bln on week
NEW DELHI – India's foreign exchange reserves rose past the $700 billion-mark and were just shy of their highest level on record in the week ended Jun. 27, data released by the RBI on Friday showed. Reserves were at $702.78 billion as of Jun. 27, up $4.85 billion from the previous week.
Foreign exchange reserves had hit a lifetime high of $704.89 billion in late September. In the week ended Jun. 27, foreign exchange reserves primarily rose owing to the RBI's likely intervention through dollar purchases in the spot market and revaluation gains.
The rupee rose 1.3% against the US unit in the reported week due to a weakening dollar index and foreign portfolio inflows. The reserves also grew due to revaluation gains after a fall in the US dollar during the period. The dollar index declined 1.5% in the week ended Jun. 27.
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. Foreign currency assets as of Jun. 27 were at $594.82 billion, up $5.75 billion. The value of the central bank's gold holdings, however, fell by $1.24 billion to $84.50 billion in the reported week. End
US$1 = INR 85.39
Reported by Pratiksha
Edited by Akul Nishant Akhoury
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