The forex stockpile stood at $635.721 billion at the end of the reporting cycle, about $70 billion less than the peak of $704.885 billion seen on September 27, 2024, RBI data showed.
The central bank’s market intervention in the reporting week helped the local currency bounce back from its life-time low of 87.97 a dollar on February 10 to below 87 now, foreign exchange dealers said.
The rupee closed Friday at 86.7125, a tad weaker than the previous closing level of 86.67. The currency opened the day stronger at 86.4750 but came under pressure on month-end dollar demand from importers.
The emerging market currencies in general remained under pressure as foreign portfolio investors are withdrawing their investment in search of safe-havens with the dollar getting stronger following Donald Trump‘s election as US president.
Overseas investors have offloaded Indian stocks worth over $11 billion on net basis in 2025 so far. In the week ending February 14, the foreign currency assets fell $4.515 billion to $539.591 billion. The foreign currency assets, which is the major contributor to the country’s total forex reserves, include the effect of appreciation or depreciation of reserves held in other major global currencies such as euro, pound and yen.Reserves held in gold rose by $1.942 billion to $74.150 billion, RBI data showed.
