India’s foreign exchange reserves have increased again. The Reserve Bank of India released the latest figures in this regard on Friday. Accordingly, India’s foreign exchange reserves rose $ 1.567 billion to US $ 677.835 billion in the week ended April 11. According to PTI news, this is the sixth consecutive week when foreign exchange reserves have been recorded. The RBI said the gold reserves rose by US $ 63.8 million to $ 79.997 billion during the week.
The top level was in September 2024
According to the news, the total reserves rose by US $ 10.872 billion to US $ 676.268 billion in the last reporting week ended on 4 April. Earlier in September 2024, the foreign exchange reserves touched the top level of US $ 704.885 billion so far. According to data released on Friday, for the week ended on April 11, Forex Considers, which is a major component of reserves, rose by US $ 89.2 million to US $ 574.98 billion.
Special drawing
Composed in terms of dollars, foreign exchange assets include appreciation or depreciation of non-American units such as euros, pounds and yen placed in foreign exchange reserves. The central bank said that the Special Drawing Rights (SDR) fell by US $ 60 million to US $ 18.356 billion. The data of the Reserve Bank of India shows that India’s reserved status with the International Monetary Fund (IMF) rose US $ 4.3 million to US $ 4.502 billion in a week under review.
Rupee is strong
Indian currency has recorded its best weekly performance in a month. The rupee closed at 85.37 against the dollar, which closed at 85.59 in the previous season. The currency increased by about 0.8% week-by-week, which is the best weekly benefit since March 17.
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