Fx Data
As on 30 Sep 22, India Fx reserves declined to $ 533 bn from a peak of $ 642 bn ( Oct 21), a decline of $ 109 bn. RBI Sep Spot intervention was to the tune of $ 33 bn. RBI's forward book is not part of the Fx reserves. Hence, it could be inferred that the decline in Fx reserves to the tune of $ 33 bn was on account of intervention and the balance $ 76 bn was on account of valuation swings. The above ties in when the RBI Governor had said in September that 67% of the drop in forex reserves was on account of valuation swings.
Looking at the forward book, RBI Sep forward intervention was to the tune of $ 10 bn. FYTD Sep, forward book intervention stands at $ 55 bn and outstanding RBI forward book now stands at $ 10 bn.
FYTD Sep, RBI intervention stands at $ 89 bn.
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