India Forex Reserves Jump USD 8 Bn To Record USD 709.41 Bn In January: RBI

New Delhi, Jan 31 (KNN) India’s foreign exchange reserves rose to a fresh all-time high of USD 709.41 billion in the week ended January 23, according to data released by the Reserve Bank of India (RBI).

Reserves increased by USD 8.05 billion during the week, supported by a rise in both foreign currency assets and gold holdings. The previous record level of USD 704.89 billion was recorded in September 2024.

Increase in Foreign Currency Assets and Gold

Foreign currency assets, the largest component of the reserves, rose by USD 2.37 billion to USD 562.89 billion. Gold reserves recorded a sharper increase, rising by USD 5.64 billion to USD 123.09 billion, contributing significantly to the overall rise in reserves.

Strong External Position

The RBI has said that India’s foreign exchange reserves are sufficient to cover more than 11 months of merchandise imports, indicating a comfortable external position. The central bank has reiterated that the country remains well placed to meet its external financing needs.

Trend in Reserves

India’s forex reserves have been on a largely upward trend in recent weeks. So far in 2025, reserves have risen by about USD 56 billion. This follows an increase of just over USD 20 billion in 2024 and a rise of USD 58 billion in 2023, after a cumulative decline of around USD 71 billion in 2022.

(KNN Bureau)