India News | Forex Kitty Jumps USD 6.596 Bn to USD 665.396 Bn

Mumbai, Apr 4 (PTI) India's forex kitty jumped USD 6.596 billion to USD 665.396 billion during the week ended March 28, the RBI said on Friday.

In the previous reporting week, the overall reserves rose by USD 4.529 billion to USD 658.8 billion, the RBI said on Friday.

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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 USD 704.885 billion in end-September 2024.

For the week ended March 28, foreign currency assets, a major component of the reserves, increased by USD 6.158 billion to USD 565.014 billion, the data released on Friday showed.

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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 USD 519 million to USD 77.793 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 65 million to USD 18.176 billion, the apex bank said.

India's reserve position with the IMF was also down by USD 16 million at USD 4.413 billion in the reporting week, the apex bank data showed.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)