Kamal Ghorui
India’s foreign exchange reserves rose by $3.825 billion to $700.946 billion in the week ended April 10, according to Reserve Bank of India (RBI) data.The reserves had increased by $9.063 billion to $697.121 billion in the previous week ended April 3. They touched an all-time high of $728.494 billion in the week ended February 27, before easing in the following weeks amid pressure on the rupee after the Middle East conflict, which also led to RBI intervention through dollar sales.For the week ended April 10, foreign currency assets, the largest component of the reserves, rose by $3.127 billion to $555.983 billion. Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound, and yen held in the reserves.Gold reserves increased by $601 million to $121.343 billion during the week. Special Drawing Rights (SDRs) rose by $56 million to $18.763 billion, while India’s reserve position with the International Monetary Fund went up by $41 million to $4.857 billion, the RBI said.
