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Get latest articles and stories on India at LatestLY. In a second consecutive weekly increase, India's forex reserves rose USD 5.977 billion to USD 578.778 billion in the week ended March 24, the Reserve Bank of India said on Friday. India News | Forex Kitty Rises USD 5.98 Bn to USD 578.78 Bn.
For the week ended March 24, the foreign currency assets, a major component of the reserves, increased by USD 4.38 billion to USD 509.728 billion, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves
The previous week had seen India's foreign reserves increase by USD 12.8 billion to USD 572.8 billion. It is worth noting that in October 2021, the country's forex reserves reached an all-time high of USD 645 billion., Economy News, Times Now
Gold reserves jump $2.19 billion to $44.11 billion, special drawing rights were up by $98 million to $18.22 billion