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News›Markets›Forex›Forex News›Forex kitty grows $6 billion as dollar count rises IDFC First
Bank Share PriceFederal Bank Share PriceIndusInd Bank Share PriceYES Bank Share PriceRBL Bank Share PriceThe Economic
Times daily newspaper is available online now. Read Today's Paper Forex kitty grows $6 billion as dollar count
risesSECTIONSForex kitty grows $6 billion as dollar count risesET BureauLast Updated: Aug 01, 2026, 07:34:00 AM ISTRate
StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisIndia's foreign exchange reserves saw a
significant rise of $6.1 billion. This increase occurred in the week ending July 24, reaching $682.3 billion. Inflows
from the RBI's FCNR(B) deposit scheme contributed to this growth. Gold reserves also experienced an increase of $1.3
billion. Despite dollar sales, reserves grew due to these incoming funds.At current levels, total reserves have declined
from their peak of $728 billion earlier this year. Mumbai: India's foreign exchange reserves increased by $6.1 billion
to $682.3 billion in the week ended July 24, as inflows from the Reserve Bank of India's FCNR(B) deposit scheme started
to trickle in.Foreign currency assets increased by $4.8 billion to $555.9 billion in the previous week. This increase is
despite the central bank heavily selling dollars in the foreign exchange market last week to contain the rupee's fall.
The currency had closed at 96.56 on July 24, very close to its record low of 96.96 as oil prices traded above $100 per
barrel."The pick-up in reserves is likely due to the inflows seen via FCNR(B) deposits, which could have countered the
dollar sales seen in the foreign exchange market last week," said Gaura Sengupta, chief economist at IDFC First
Bank.Traders estimate that the RBI may have sold approximately $1 billion-$1.5 billion last week in the foreign exchange
market to defend the rupee from weakening past its record lows.Gold reserves rose $1.3 billion to $103 billion in the
previous week.Live EventsRBI Governor Sanjay Malhotra, in a media interview earlier this week, said that the country has
received inflows of $32 billion under the various schemes announced by the government and the RBI.At current levels,
total reserves have declined from their peak of $728 billion earlier this year.Add as a Reliable and Trusted News Source
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