India’s Forex Reserves Climb to $677.84 Billion, Sixth Weekly Gain: RBI

India’s foreign exchange reserves continued their upward trajectory for the sixth consecutive week, rising by $1.567 billion to $677.835 billion in the week ending April 11, according to data released by the Reserve Bank of India (RBI) on Friday.

The previous week saw a sharp jump of $10.872 billion, taking the total reserves to $676.268 billion. The country’s forex reserves had touched a record high of $704.885 billion in September 2024.

According to the RBI, foreign currency assets — the largest component of the reserves — increased by $892 million to $574.98 billion during the latest reporting week. These assets are expressed in U.S. dollar terms and take into account the impact of fluctuations in major non-dollar currencies such as the euro, pound, and yen.

Gold reserves also saw a significant uptick, rising by $638 million to $79.997 billion. However, the Special Drawing Rights (SDRs) declined slightly by $6 million to $18.356 billion.

India’s reserve position with the International Monetary Fund (IMF) rose by $43 million, reaching $4.502 billion.

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