India's Forex Reserves Jump USD 10.87 Billion

Mumbai, Apr 11 (PTI) India's forex reserves jumped USD 10.872 billion to USD 676.268 billion during the week ended April 4, the Reserve Bank of India (RBI) said on Friday.

The overall kitty had jumped USD 6.596 billion to USD 665.396 billion in the previous reporting week.

This is the fifth consecutive week of an increase in the kitty, which had seen some decline recently due to revaluation, along with forex market interventions by the RBI, to help reduce volatilities in the rupee. The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024.

For the week ended April 4, foreign currency assets, a major component of the reserves, increased USD 9.074 billion to USD 574.088 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 USD 1.567 million to USD 79.36 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up USD 186 million to USD 18.362 billion, the apex bank said.

India's reserve position with the IMF was also up USD 46 million to USD 4.459 billion in the reporting week, the apex bank data showed.