Overview

• India’s foreign exchange reserves rose by $2.29 billion to $698.95 billion for the week ending June 13, bringing them within $6 billion of the September 2024 peak.
• Foreign currency assets led the gain with a $1.73 billion increase to $589.42 billion.
• Gold reserves climbed by $428 million to $86.316 billion, SDRs rose by $85 million to $18.756 billion, and India’s IMF reserve position increased by $43 million to $4.452 billion.
• The rupee appreciated by 18 paise to 86.55 per US dollar on June 20, supported by foreign capital inflows and a softer dollar.
• As the fourth-largest holder of forex reserves, India can cover nearly 11 months of imports and service about 96% of its external debt despite $10.2 billion in foreign investor outflows this year.