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Gold reserves increase by $519 million to $77.793 billion during the week ended March 28; the special drawing rights fall by $65 million to $18.176 billion.
Foreign currency assets, a major component of the reserves, increased by $6.158 billion to $565.014 billion during the week ended March 28.
India’s foreign exchange (forex) reserves jumped $6.596 billion to $665.396 billion during the week ended March 28, according to the latest data from the RBI. According to Reuters, this is the highest level in nearly five months.
In the previous reporting week, the forex reserves had risen $4.529 billion to $658.8 billion.
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 RBI 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 ended March 28. The special drawing rights (SDRs) were down by $65 million to $18.176 billion, the RBI 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.
