India’s foreign exchange reserves increased after four weeks of consecutive fall by $9.06 billion to $697.12 billion during the week ended April 3 on the back of a rise in gold reserves, latest data by the Reserve Bank of India showed.
Gold reserves increased by $7.22 billlion during the reported week. Meanwhile, foreign currency assets rose by $1.78 billion to $552.85 billion during the same period.
Gold prices increased by 4.06 per cent to $4676/oz during the reported week.
Foreign exchange reserves increased by $22.72 billion during the previous financial year.
The Special Drawing Rights were up by $58 million at $18.7 billion during the reported week. India’s reserve position with the International Monetary Fund was up unchanged at $4.82 billion.
-- Anjali Kumari,
Business Standard
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