India’s Forex Reserves Surge to USD 688.13 Billion
India’s foreign exchange reserves climbed USD 1.983 billion to USD 688.129 billion within the week ended April 25, marking the eighth consecutive weekly rise. The rise was pushed by a bounce in international foreign money belongings.
The foreign exchange reserves had touched an all-time excessive of USD 704.885 billion in end-September 2024.
For the week ended April 25, international foreign money belongings, a significant element of the reserves, elevated USD 2.168 billion to USD 580.663 billion, the info launched on Friday confirmed.
Expressed in greenback phrases, the international foreign money belongings embrace the impact of appreciation or depreciation of non-US models just like the euro, pound and yen held within the international change reserves.
Gold reserves decreased USD 207 million to USD 84.365 billion through the week, the Reserve Financial institution of India mentioned.
The Particular Drawing Rights (SDRs) have been up USD 21 million to USD 18.589 billion, the apex financial institution mentioned.
India’s reserve place with the IMF was additionally up USD 2 million to USD 4.512 billion within the reporting week, the apex financial institution knowledge confirmed.
