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India’s Forex Chest Dips Slightly; RBI Confirms Zero Government Debt

Updated: July 18, 2025 17:21

Image Source : Upstox
India’s foreign exchange reserves stood at USD 696.67 billion as of July 11, 2025, marking a modest decline from USD 699.74 billion recorded the previous week, according to the Reserve Bank of India’s Weekly Statistical Supplement.
 
Key highlights:
  • The dip of USD 3.07 billion is attributed to valuation changes and possible central bank interventions.
  • Despite the decline, reserves remain near record highs, offering a strong buffer against external shocks.
Government debt status:
  • The RBI confirmed that the central government had no outstanding loans with it as of July 11, under the Ways and Means Advances framework.
  • This indicates healthy fiscal liquidity and reduced reliance on shortterm central bank funding.
Strategic implications:
  • The robust reserve position supports India’s external stability amid global currency fluctuations.
  • Absence of government borrowing from RBI reflects prudent cash management and fiscal discipline.
Sources: Reserve Bank of India Weekly Statistical Supplement, Moneycontrol, Investing.com, Business Recorder

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