India’s forex reserves increased $1.983 billion to $688.129 billion during the week ended April 25, the RBI said on Friday.This is the eighth consecutive week of a rise in the kitty, which had jumped $8.31 billion to $686.145 in the previous reporting week.
The forex reserves had touched an all-time high of $704.885 billion in end-September 2024.
For the week ended April 25, foreign currency assets, a major component of the reserves, increased $2.168 billion to $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.Also Read: RBI panel recommends retaining current trading hours for forex marketsGold reserves decreased $207 million to $84.365 billion during the week, the Reserve Bank of India said.The Special Drawing Rights (SDRs) were up $21 million to $18.589 billion, the apex bank said.India’s reserve position with the IMF was also up $2 million to $4.512 billion in the reporting week, the apex bank data showed.
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