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India’s forex reserves rise for seventh straight week, jumps $8.31 billion to $686 billion

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NEW DELHI: India’s foreign exchange reserves increased by $8.31 billion to $686.145 billion for the week ended April 18, the Reserve Bank of India said on Friday.
The forex kitty have shown positive growth for seven straight weeks, with the previous week ended April 11 recording an increase of $1.567 billion to $677.835 billion.
The overall forex kitty witnessed all-time high of $704.885 billion in September 2024.
For the period ending April 18, the data released indicated that foreign currency assets, which constitute a significant portion of the reserves, grew by $3.516 billion to $578.495 billion.
The foreign currency assets, when expressed in dollar terms, reflect the impact of value changes in non-US currencies such as the euro, pound and yen that are part of the foreign exchange reserves, reported news agency PTI.
The RBI reported that gold reserves saw an increase of $4.575 billion, reaching $84.572 billion during this period.
According to the apex bank, Special Drawing Rights (SDRs) increased by $212 million to $18.568 billion.
The data from the apex bank showed that India’s reserve position with the IMF registered an increase of $7 million, reaching $4.51 billion in the reporting week.

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