India's forex reserves touch new high of $675 bn as of August 2

India's foreign exchange reserves touched an all time high of $675 billion as of August 2, reflecting a robust external sector performance, RBI Governor Shaktikanta Das said on Thursday during announcement of MPC decision.

Last week's data showed that the reserves dipped by $3.47 billion to $667.39 billion for the week ending on July 26.

The previous all time high was at $670.86 billion as of July 19.


According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) were up by $5.1 billion to $592.04 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.

On the other hand, Gold reserves expanded by $2.4 billion to $60 billion. SDRs for the above mentioned week fell by $41 million to stand at $18.161 billion. Moreover, Reserve position in the IMF was up by $8 million to $4.62 billion.


The RBI governor noted that Indian Rupee remained largely range-bound in August. The rupee was at 83.93 against the US dollar as of 09:30 a.m on Thursday, in comparison to its previous close at 83.9550.

Furthermore, the Governor also said that foreign portfolio investors have become net buyers in the domestic market, with net inflows of $9.7 billion from June to August (up to August 6), reversing the outflows of $4.2 billion experienced in April and May.

Foreign direct investment (FDI) flows also showed strong growth in 2024-25, with gross FDI rising by over 20% during April-May 2024.

Net FDI flows doubled during this period compared to the same time last year.


Meanwhile, external commercial borrowings moderated between April and June 2024-25, and non-resident deposits saw increased net inflows during April-May compared to the previous year.

"Overall, India’s external sector remains resilient as key indicators continue to improve. We remain confident of meeting our external financing requirements comfortably," Das said.