For the week ended April 7, foreign currency assets increased by $4.7 billion to $514.4 billion. (file)
Mumbai:
India’s foreign exchange reserves rose by $6.306 billion to $584.755 billion for the week ended April 7, the Reserve Bank of India said on Friday. In the last reporting week, the forex kitty reduced the two-week rising trend by $329 million to $578.45 billion.
It is noteworthy that in October 2021, the country’s foreign exchange reserves had reached an all-time high of $ 645 billion. Reserves are falling as the central bank deploys kitty to protect the rupee amid pressure due to global growth.
For the week ended April 7, foreign currency assets, a major component of reserves, increased by $4.74 billion to $514.431 billion, according to the weekly statistical supplement released by the RBI on Friday.
Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
RBI said that gold reserves increased by $ 1.496 billion to $ 46.696 billion.
The apex bank said special drawing rights (SDRs) rose by $58 million to $18.45 billion.
The country’s reserve position with the IMF rose by $13 million to $5.178 billion in the week under review, the data showed.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)