India's forex reserves rise to $653.97 billion, up $15.26 billion as of March 7

India's forex reserves increased to $653.97 billion in the week ending March 7, 2025, up by $15.26 billion, said the Reserve Bank of India on Friday.

For the previous week, India's forex reserves fell to $638.69 billion in the week ending February 28, 2025, down by $1.7 billion, said the Reserve Bank of India on Friday.

According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) were up by $13.93 billion to $557.28 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.


Gold reserves saw a surge of $1 billion to $74.32 billion. Meanwhile, SDRs for the above-mentioned week increased by $212 million to stand at $18.21 billion. Reserve position in the IMF was up by $69 million to $4.1 billion.

India's forex kitty
The central bank releases India's forex reserves' data every Friday, closely monitoring the economic indicator of foreign trade.

The RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee.

The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.