India’s forex reserves rise to $ 688.13 billion for 8th straight week

India’s foreign exchange reserves rose by $1.983 billion to $688.129 billion in the course of the week ended April 25, marking the eighth consecutive weekly enhance, the Reserve Bank of India (RBI) stated on Friday. Within the earlier week, reserves had surged by $8.31 billion to $686.145 billion.
The reserves stay beneath the all-time excessive of $704.885 billion recorded on the finish of September 2024.
Through the reporting week, foreign currency assets (FCAs), the biggest part of the reserves, elevated by $2.168 billion to $580.663 billion. FCAs are reported in greenback phrases and mirror the valuation impression of non-US currencies just like the euro, pound, and yen held within the reserves.
Gold reserves declined by $207 million to $84.365 billion. Particular Drawing Rights (SDRs) with the Worldwide Financial Fund (IMF) rose by $21 million to $18.589 billion, whereas India’s reserve place with the IMF elevated by $2 million to $4.512 billion.
As of April 25, the RBI reported no excellent loans or advances to the central authorities, per earlier weeks. Nonetheless, loans and advances to state governments stood at Rs 22,324 crore, a pointy decline from Rs 36,792 crore on April 18. Regardless of the week-on-week drop, borrowings remained increased than the Rs 13,284 crore recorded on April 26, 2024.
Because the finish of March 2025, foreign exchange reserves have grown by Rs 1,67,068 crore ($19.80 billion), led by a rise of Rs 1,10,162 crore ($13.11 billion) in FCAs. Gold holdings additionally posted a big achieve of Rs 52,623 crore ($6.19 billion), whereas SDRs and the IMF reserve place rose by Rs 3,528 crore ($420 million) and Rs 755 crore ($88 million), respectively.
On a year-on-year foundation, reserves had been up by Rs 5,61,953 crore ($50.21 billion) from April 26, 2024. This included a Rs 2,95,722 crore ($20.96 billion) rise in FCAs and a Rs 2,57,904 crore ($28.83 billion) enhance in gold reserves. SDRs rose by Rs 8,378 crore ($540 million), whereas the reserve place within the IMF noticed a marginal decline of Rs 51 crore ($127 million), reflecting general energy and adequacy in India’s exterior buffer.
The RBI clarified that FCAs exclude SDR holdings and don’t embody investments in IIFC (UK) bonds or funds lent underneath SAARC and ACU foreign money swap preparations. This ensures that the reported figures characterize available overseas foreign money liquidity.