India's Forex Reserves Update
India's foreign exchange reserves saw a significant increase during the week ended April 4, according to the Reserve Bank of India (RBI).
Key Figures and Trends
- Reserves Increase: The forex reserves jumped by $10.872 billion, reaching a total of $676.268 billion.
- Previous Week Performance: In the prior week, an increase of $6.596 billion was noted, bringing the reserves to $665.396 billion.
- Consistent Growth: This marks the fifth consecutive week of an increase in reserves.
- Historical Context: The reserves had previously reached an all-time high of $704.885 billion in end-September 2024.
Components of Forex Reserves
- Foreign Currency Assets:
- Increased by $9.074 billion to $574.088 billion during the reported week.
- Includes effects of currency appreciation or depreciation of non-US currencies (euro, pound, yen) in the reserves.
The consistent rise in forex reserves is attributed to revaluation effects and RBI's interventions in the forex market to manage rupee volatility.
