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Data▲ Bullish for Indian equities
India forex reserves surge to a record high in September and to provide cover for 11.2 months of goods imports, says RBI
The brief
- Forex reserves hit a record high in September, covering 11.2 months of goods imports
- Strong foreign currency inflows followed the RBI’s concessional swap
- Stronger reserves support the rupee and provide a buffer for Indian importers
- Weekly policy watch: Goyal-Greer meet, IIP, PMI and forex data in focus
- NRI deposit inflows surge nearly sevenfold to $36.2 billion in April-July FY27
- Russian crude supplies enabled India to cushion against oil supply shocks caused by West Asian war: Deputy FM
- Rupee gains from FCNR (B) boost reverse in September amid higher crude oil prices: RBI bulletin
- Economy resilient with downside risks from West Asia conflict: RBI bulletin
India’s sharp weekly forex reserve decline
India’s foreign exchange reserves fell about $14.88 billion to $765.90 billion in the week ended September 18. Foreign currency assets declined $14.8 billion, with an economist attributing $10.9 billion to actual dollar sales.
Monday, 28 September
- India forex reserves surge to a record high in September and to provide cover for 11.2 months of goods imports, says RBI