MUMBAI: India’s foreign exchange reserves rose for an eighth consecutive week and stood at an over six-month high of $688.13 billion as of April 25, according to data released by the central bank on Friday.
The reserves rose by $1.98 billion in the reported week, after increasing by a cumulative $47.5 billion in the prior seven weeks.
India’s FX reserves are now about $17 billion away from the record high of $704.89 billion hit in late September.
Changes in foreign currency assets are caused by the central bank’s intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves.
For the week to which the reserves data pertains, the rupee had dropped about 0.1% week-on-week amid increasing geopolitical tensions with Pakistan.
India’s forex reserves jump to six-month high of $686.2 billion
The rupee closed at 84.58 per dollar on Friday, ending 1% higher on the week, bolstered by inflows into Indian equities and optimism about a U.S.-India trade deal.
Forex reserves include India’s Reserve tranche position at the International Monetary Fund.
Foreign exchange reserves (in million US dollars)
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April 25 April 18
2025 2025
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Foreign currency assets 580,663 578,495
Gold 84,365 84,572
SDRs 18,589 18,568
Reserve Tranche Position 4,512 4,510
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Total 688,129 686,145
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American Dollar Exchange Rate