October 06 2017

Foreign Exchange Reserves India

At the end of September 2017, the total forex reserves with the RBI reached a new record high of USD 399.7 billion, marking a rise of 7.4% YoY.

Published weekly (every Friday) by the Reserve Bank of India (RBI). Updated monthly by IMA. Updated till end-September 2017. (Published on October 6th, 2017)

Brief Overview
Foreign Exchange Reserves of India consists of cash, gold, bonds, bank deposits and financial assets denominated in foreign currencies. (Primarily US dollars in the forms of US treasury bonds and institutional bonds).

Even though India is the largest gold consuming nation, the share of gold in total forex reserves is much less than most developed nations. The share of gold in total forex reserves has fallen from 78% prior to liberalization of the Indian economy to around 5.4% at present. As per International Monetary Fund's official press release (dated November 2, 2009), Reserve Bank of India (RBI) bought 200 tonnes of gold worth USD 6.7 billion from the IMF, under its foreign exchange reserves management program.

Foreign exchange reserves of India crossed the milestone of $100 billion in December 2003 (USD 103.1 billion). Post-2008 global financial crisis, India's forex reserves have increased by about 48%. In terms of inter-country comparisons, forex reserves of India stand at 6th position behind China (1st) and Japan (2nd), to name a few.

For more information please visit the official government website.

Next Release Date: November 3rd, 2017