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RBI Purchases Net USD 8.52 Billion in the First Half of FY25.

Banking & Finance | Dated: 01 Dec 2024

In the first half of the Fiscal Year 2024-2025 (April-September 2025/H1FY25), the Reserve Bank of India (RBI) in its 'RBI-Bulletin - November 2024' reported a net purchase of USD 8.52 Billion in foreign currency assets as compared to USD 17.68 Billion in H1FY24.

🎯 Key Highlights:

  • - As of September 2024, the RBI had bought a net USD 32.27 billion, including USD 9.6 billion in September.
  • - The RBI was a net seller of dollars in April, June, and August, but bought the highest net amount in September 2024. The rupee appreciated by 0.07% in September.
  • - RBI sold a net USD 1.5 billion in September 2023, and its net outstanding forward sales stood at USD 14.58 billion by September 2024.

💡 Other Important Facts:

  • (i) As of November 8, 2024, India's foreign exchange reserves were USD 675.7 billion, down from a high of USD 705.8 billion in September.
  • (ii) These reserves cover over 11 months of imports and nearly 99% of external debt.
  • (iii) In 2024, India added USD 53.2 billion to its reserves, the second-largest increase in Asia.

📚 Test Your Knowledge:

How much did the Reserve Bank of India (RBI) buy in the first half of FY25?

Correct Answer: USD 8.52 billion

🚀 Quick Recap:

About RBI

  • CEO : Shaktikanta Das
  • Headquarters: Mumbai