Mumbai: India’s foreign exchange reserves increased by USD 1.657 billion to USD 586.412 billion as on April 14, showing an increase for the second consecutive week, according to RBI data released on Friday (April 21). In the last reporting week, the total reserves increased by USD 6.306 billion to USD 584.755 billion.
For the week ended April 14, foreign currency assets, a major component of reserves, increased by USD 2.204 billion to USD 516.635 billion, according to the weekly statistical supplement released by RBI. 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 foreign exchange reserves.
gold reserves fell
RBI said that the gold reserves decreased by $ 521 million to $ 46.125 billion. The apex bank said special drawing rights (SDRs) declined by $38 million to $18.412 billion. The country’s reserve position with the IMF rose by USD 12 million to USD 5.19 billion in the week under review, data from the apex bank showed.
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