Forex kitty rises for sixth consecutive week, rises $1.567 billion to $677.835 billion

India's foreign exchange reserves rose by $1.567 billion to reach $677.835 billion for the week ending April 11, the Reserve Bank of India said on Friday. The reserves have shown continuous growth for sixth consecutive week.

The overall forex kitty witnessed an increase of $10.872 billion, reaching $676.268 billion in the previous reporting week ended April 4.

The foreign currency assets, which constitute a significant portion of the reserves, increased by $892 million to $574.98 billion, according to Friday's data release.

The highest level of forex reserves was recorded at $ 704.885 billion in September 2024.

When expressed in dollar terms, the foreign currency assets reflect changes in value of non-US currencies such as the euro, pound and yen maintained in the foreign exchange reserves.

Gold reserves increased by $ 638 million, reaching $ 79.997 billion during this period, RBI said.

The apex bank stated that Special Drawing Rights (SDRs) decreased by $6 million to $18.356 billion.

India's reserve position with the IMF increased by $43 million to $4.502 billion in the reporting week, the RBI data added.