Forex reserves rise for sixth straight week, up $1.56 bn to $677.83 bn

India's forex reserves increased by $1.567 billion to $677.835 billion for the week ended April 11, the Reserve Bank said on Friday.

This is the sixth consecutive week of a rise in the kitty. The overall reserves jumped by $10.872 billion to $676.268 billion in the previous reporting week ended April 4.

The forex reserves touched an all-time high of $704.885 billion in September 2024.

For the week ended April 11, foreign currency assets, a major component of the reserves, rose by $892 million to $574.98 billion, the data released on Friday showed.

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.

Gold reserves surged by $638 million to $79.997 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down $6 million at $18.356 billion, the apex bank said.

India's reserve position with the IMF was up $43 million at $4.502 billion in the reporting week, the apex bank data showed.