Business

India’s Forex Reserves Continue Upward Trend; Rise By $1.57 Billion

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

This latest increase follows a significant jump of $10.872 billion in the previous week, which took total reserves to $676.268 billion.

The reserves are inching closer to the all-time high of $704.885 billion, reached in September 2024.

The steady rise underscores India’s strengthened external sector position amid global uncertainties.

Rise In Foreign Currency Assets And Gold Holdings

The RBI reported that foreign currency assets (FCAs), which form the largest component of forex reserves, rose by $892 million, reaching $574.98 billion.

These assets, expressed in dollar terms, also reflect the impact of movements in the euro, pound sterling, and yen against the US dollar.

Also Read: India’s Pharmaceutical Exports Hit Record £24 Billion In FY25; Driven By March Surge

Meanwhile, gold reserves surged by $638 million, bringing the total to $79.997 billion for the week.

This marks a substantial contribution to the overall increase in reserves.

Minor Movements In Other Components

The data also revealed a slight decline in Special Drawing Rights (SDRs), which fell by $6 million to $18.356 billion.

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

With consistent weekly gains, India’s forex reserves continue to signal a stable macroeconomic environment.

Analysts view the rising reserves as a buffer against external shocks and a key indicator of investor confidence in the Indian economy.

The Reserve Bank’s data release reinforces the view that India is maintaining a robust foreign exchange position ahead of global economic uncertainties and potential capital flow volatility.

Bharat Express English

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