India's forex reserves increased by $6.306 billion to $584.755 billion for the week ended April 7, the RBI said on Friday.
In the last reporting week, the forex kitty snapped a two-week rising trend to decline by $329 million to $578.45 billion.
It can be noted that in October 2021, the country's forex kitty reached an all-time high of $645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused by global developments.
For the week ended April 7, the foreign currency assets, a major component of the reserves, increased by $4.74 billion to $514.431 billion, according to the Weekly Statistical Supplement released by the RBI on Friday.
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 rose by $1.496 billion to $46.696 billion, the RBI said. The Special Drawing Rights (SDRs) were up by $58 million to $18.45 billion, the apex bank said.
The country's reserve position with the IMF was up by $13 million to $5.178 billion in the reporting week, the data showed.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Prajwal Revanna Sexual Assault Case: Activist raises concerns over political interference, delayed investigation in the matter
Apr 30, 2024 10:17 PM
Lok Sabha Election 2024: Baramati election outcome will decide the future of Pawar dynasty, says expert
Apr 30, 2024 10:08 PM
Lok Sabha elections 2024: Baramati to Mainpuri, key battles in phase 3
Apr 30, 2024 7:01 PM