India’s forex reserves climbed USD 1.983 billion to USD 688.129 billion in the week ended April 25, marking the eighth consecutive weekly rise. The increase was driven by a jump in foreign currency assets.
This is the eighth consecutive week of a rise in the kitty, which had jumped 8.31 billion to USD 686.145 in the previous reporting week.
The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024.
For the week ended April 25, foreign currency assets, a major component of the reserves, increased USD 2.168 billion to USD 580.663 billion, the data released on Friday showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves decreased USD 207 million to USD 84.365 billion during the week, the Reserve Bank of India said.
The Special Drawing Rights (SDRs) were up USD 21 million to USD 18.589 billion, the apex bank said.
India’s reserve position with the IMF was also up USD 2 million to USD 4.512 billion in the reporting week, the apex bank data showed.
