India's foreign exchange reserves go up by $ 1.701 billion to $ 584.107 billion

India's foreign exchange reserves go up by $ 1.701 billion to $ 584.107 billion

Mumbai, April 30, 2021

Maintaining an uptrend for the third consecutive week, India's foreign exchange reserves increased by $ 1.701 billion to $ 584.107 billion during the week ended April 23, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had gone up by $ 1.193 billion to $ 582.406 billion during the previous week.

In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had risen by $ 1.062 billion to $ 541.647 billion during the week.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

According to the bulletin, the country’s gold reserves increased by $ 615 million to $ 35.969 billion, while its special drawing rights went up by $ 7 million to $ 1.505 billion.

The country's reserve position in the International Monetary Fund (IMF) increased by $ 18 million to $ 4.987 billion, the bulletin added.

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