RBI released the 43rd half-yearly report on the management of foreign exchange reserves.

Banking & Finance

On 29th October 2024, the RBI released its 43rd Half-Yearly Report on the Management of Foreign Exchange Reserves (MFER) for the period from Apr to Sept 2024.


      - According to the report, India's FX reserves position as of 18th Oct 2024 was projected at USD 688.27 bn, consisting of USD 598.24 bn in FCA, Gold worth USD 67.44 bn, SDRs of USD 18.27 bn, and RTP of USD 4.32 bn.

      - The RBI's latest report indicates that FER increased from USD 646.42 bn as of 31st Mar 2024 to USD 705.78 bn as of 30th Sept 2024.

      - The report shows that India's FER, on a BoP basis excluding valuation effects, increased by USD 5.2 bn during Apr-June 2024, compared to an increase of USD 24.4 bn during the same period last year.

Main Points:-   (i) As per the report, RBI's net forward asset (payable) stood at USD 14.58 bn as of 30th Sept 2024.

      (ii) The report also revealed that India's net IIP, which includes both external financial assets and liabilities, was negative at USD 368.3 bn as of 30th June 2024, an improvement from the negative net IIP of USD 379 bn as of 30th June 2023. This indicates that external liabilities exceed external assets in both periods.


About RBI

CEO : Shaktikanta Das
Headquarter : Mumbai
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