• Source:PTI
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India Foreign Reserve:  India's foreign exchange reserves decreased by USD 2.412 billion to USD 637.922 billion as of April 26, which marks the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had declined by USD 2.28 billion to USD 640.33 billion. For the week ended April 5, the reserves had touched an all-time high of USD 648.562 billion after several weeks of increases.

The previous high of USD 642.453 billion achieved in September 2021 was surpassed in March this year. For the week ended April 26, the foreign currency assets -- a major component of the reserves -- decreased by USD 1.159 billion to USD 559.701 billion, the data released on Friday showed.

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Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound, and yen held in the foreign exchange reserves.

Gold reserves decreased from USD 1.275 billion to USD 55.533 billion during the week, the RBI said. The Special Drawing Rights (SDRs) increased from USD 15 million to USD 18.048 billion, the apex bank said. India's reserve position with the IMF also increased by USD 8 million to USD 4.639 billion in the reporting week, the apex bank data showed.

Earlier last month, India's foreign exchange reserves climbed to a fresh high of US$648.562 billion during the week ended April 5, the RBI said on Friday, up US$2.98 billion from the previous week's record high. The reserve bank reported a rise of US$2.951 billion in the previous week to US$645.583 billion. In September 2021, the country's foreign exchange reserves touched an all-time high of US$642.453 billion, which was surpassed in March this year.

(With PTI Inputs)

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