• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, July 9, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Indian forex reserves down by $3.463 Bn to $684.805 Bn as per latest RBI data

by Ishaan Negi
November 2, 2024
in Business, Markets, News, Tech, Trending, World
Reading Time: 3 mins read
0
Indian forex reserves down by $3.463 Bn to $684.805 Bn as per latest RBI data

Credits: Upstox

TwitterWhatsappLinkedin

One of the most important measures of India’s economic stability and health is its foreign exchange reserves. Economists and market analysts have been debating the ramifications for India’s economy since the Reserve Bank of India (RBI) recently announced a sharp drop in these reserves. Let’s examine the most recent numbers and their meaning.

You might also like

Passkeys – How Secfense Is Reinventing Workforce Authentication?

New Academic Studies Allege Uber’s Opaque Algorithm Systematically Boosts Profits at Expense of Drivers and Passengers

Germany Demands Google, Apple Remove DeepSeek AI Over Unlawful Data Transfers to China

India's forex reserves down $3.4 bn on weekly basis to $684.8 bn | Here's  why | Economy News - News9live

Credits: News 9 Live

A Notable Decline

India’s foreign exchange reserves dropped $3.463 billion in the week ending October 25, 2024, to $684.805 billion overall. Following a $2.163 billion dip the week before, this decline is part of a worrying pattern that has many analysts alarmed. To put this decline in perspective, the reserves hit a record high of $704.885 billion at the end of September.

Because they allow international trade, act as a buffer against external economic shocks, and affect the stability of the native currency, foreign exchange reserves are essential for a nation. The reasons behind the recent decline and the state of the economy as a whole are called into question.

The Special Drawing Rights (SDRs) were down by $52 million to $18.219 billion.

Credits: News 18

Breaking Down the Components

The decline of foreign currency assets, which make up a sizable portion of the reserves, is mostly to blame for the decline in forex reserves. Foreign currency assets fell $4.484 billion in the most recent reporting week, totaling $593.751 billion. Global market swings and shifts in the value of currencies like the euro, pound, and yen relative to the dollar are the causes of this decline.

It’s interesting to see that not every reserve component is declining. With a $1.082 billion rise, gold reserves now stand at $68.527 billion. This increase in gold reserves points to a potential strategy change, with the RBI choosing to increase its gold holdings as a buffer against unrest.

The Impact of Special Drawing Rights (SDRs)

The Special Drawing Rights (SDRs), an international reserve asset established by the International Monetary Fund (IMF) to augment member nations’ official reserves, are another facet of the reserves. India’s SDRs dropped $52 million for the week ended October 25, bringing the total down to $18.219 billion. Furthermore, India’s reserve position with the IMF decreased little, dropping from $9 million to $4.307 billion.

The intricate interactions of international finance and the significance of preserving strong ties with international financial organizations are demonstrated by these swings in SDRs and the reserve position with the IMF.

The Bigger Picture: Causes for Concern

A number of concerns regarding the Indian economy are brought up by the drop in foreign exchange reserves. Numerous causes are cited by market observers, such as shifting global economic conditions, shifting commodity prices, and geopolitical concerns. These elements have the potential to cause capital flow volatility, which eventually impacts foreign exchange reserves.

Additionally, the stability of the Indian rupee and investor confidence may be impacted by a diminishing foreign exchange reserve. Consumer purchasing power may be impacted by rising import costs brought on by a declining rupee, which also contributes to inflation. The significance of strong economic management and efficient monetary policy becomes more apparent as the RBI negotiates these difficulties.

Future Outlook: Navigating Challenges Ahead

The RBI is going to encounter a difficult environment. Although the recent drop in reserves is alarming, it’s important to understand that these swings are a normal part of the economic cycle. To maintain the stability of India’s foreign exchange reserves, the central bank will need to keep a careful eye on world events and take aggressive measures.

Future RBI policy and global developments will be closely watched by investors and market participants. In the upcoming months, striking a balance between promoting economic growth and preserving sound reserves will be essential.

Conclusion: A Path Forward

The volatility of India’s foreign exchange reserves in recent weeks is indicative of the complexity of the world economy. Although the recent decreases are noteworthy, it is crucial to consider them in light of India’s overall economic situation. The RBI’s strategic choices will be crucial in protecting the economy and maintaining financial market stability while the nation negotiates these difficulties. India can emerge more resilient and adaptable, prepared to take on the ever-changing challenges that lie ahead.

Tags: #Indian_forex_reserveEconomyForexIndia
Tweet54SendShare15
Previous Post

Weekly Business Updates: From Swiggy IPO to Elcid Investments

Next Post

Intel Layoffs Continue: 17,000 Jobs Cut and Employee Bonuses at Risk

Ishaan Negi

Ishaan is a student at Sri Venkateswara College, University of Delhi, where he combines his academic pursuits with a deep passion for technology and storytelling. Ever since his school days, Ishaan has been an avid reader, a thoughtful writer, and an articulate speaker. These interests have naturally evolved into a strong inclination towards journalism, especially in the fast-paced world of tech. Known for his balanced approach, Ishaan is committed to presenting unbiased viewpoints and ensuring every story he tells is rooted in facts and multiple perspectives. Whether he’s reporting on emerging startups, corporate developments, or ethical issues in the tech space, he brings a sharp analytical lens and a curiosity-driven mindset to his work. With a strong foundation in research and communication, Ishaan strives to make complex topics accessible to readers while maintaining depth and nuance. His goal is not just to inform but also to spark thoughtful conversations around the ever-evolving tech landscape.

Recommended For You

Passkeys – How Secfense Is Reinventing Workforce Authentication?

by Rohan Mathawan
July 9, 2025
0
Passkeys – How Secfense Is Reinventing Workforce Authentication?

What Are Passkeys — And Why They Matter Passkeys rely on public‑key cryptography - a private key is securely stored on a device, while a matching public key...

Read more

New Academic Studies Allege Uber’s Opaque Algorithm Systematically Boosts Profits at Expense of Drivers and Passengers

by Anochie Esther
July 9, 2025
0
Uber

Uber, the global ride-hailing giant, is once again facing intense scrutiny over its pricing practices. Two independent academic studies, one from the prestigious Columbia Business School in the...

Read more

Germany Demands Google, Apple Remove DeepSeek AI Over Unlawful Data Transfers to China

by Sneha Singh
July 9, 2025
0
Germany Demands Google, Apple Remove DeepSeek AI Over Unlawful Data Transfers to China

Popular AI chatbot DeepSeek can be deleted from app stores throughout the European Union following a request for its removal by Berlin's data regulator due to severe privacy...

Read more
Next Post
Intel

Intel Layoffs Continue: 17,000 Jobs Cut and Employee Bonuses at Risk

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?