India's forex reserves rise by $ 1.193 billion to $ 582.406 billion

India's forex reserves rise by $ 1.193 billion to $ 582.406 billion

Mumbai, April 23, 2021

Maintaining an uptrend for the second consecutive week, India's foreign exchange reserves rose by $ 1.193 billion to $ 582.406 billion during the week ended April 16, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had soared by $ 4.344 billion to $ 581.213 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 gone up by $ 1.130 billion to $ 540.585 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 $ 34 million to $ 35.354 billion, while its special drawing rights went up by $ 6 million to $ 1.498 billion.

The country's reserve position in the International Monetary Fund (IMF) increased by $ 23 million to $ 4.969 billion, the bulletin added.

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