India’s forex kitty jumped $6.596 billion to $665.396 billion during the week ended March 28, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the overall reserves rose by $4.529 billion to $658.8 billion, the RBI said on Friday.
This is the fourth consecutive week of increase in the reserve, which was on a declining trend recently due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of $704.885 billion in end-September 2024.
For the week ended March 28, foreign currency assets, a major component of the reserves, increased by $6.158 billion to $565.014 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 increased by $519 million to $77.793 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $65 million to $18.176 billion, the apex bank said.
India’s reserve position with the IMF was also down by $16 million at $4.413 billion in the reporting week, the apex bank data showed.
