India’s foreign exchange reserves increased by $ 4.532 billion to $ 588.78 billion.
Mumbai:
India’s foreign exchange reserves increased by $4.532 billion to $588.78 billion in the week ended April 28, the Reserve Bank of India said on Friday.
The total reserves had declined by USD 2.164 billion to USD 584.248 billion in the previous week under review.
In October 2021, the country’s foreign exchange reserves were to touch an all-time high of USD 645 billion. Reserves were declining as the central bank deployed its kitty to protect the rupee amid pressure mainly due to global developments.
For the week ended April 28, foreign currency assets, a major component of reserves, increased by nearly USD 5 billion to USD 519.485 billion, according to the weekly statistical supplement released by RBI.
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 the gold reserves decreased by $ 494 million to $ 45.657 billion.
Special Drawing Rights (SDRs) increased by USD 35 million to USD 18.466 billion, the country’s reserve position with the IMF declined by USD 4 million to USD 5.172 billion.
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