India forex reserves rise for second straight week
India’s foreign exchange reserves rose by $3.825 billion to $700.946 billion in the week ended April 10, according to the weekly supplement released by the country’s central bank on Friday, News.Az reports, citing Xinhua.
This marks the second consecutive week of gains. In the previous week, reserves had increased by more than $9 billion.
Data from the Reserve Bank of India (RBI) showed that Foreign Currency Assets, the largest component of the reserves, rose by $3.127 billion to $555.983 billion.
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Gold reserves increased by $601 million to $121.343 billion, while Special Drawing Rights rose by $56 million to $18.763 billion.
India’s reserve position with the International Monetary Fund also improved by $41 million to $4.857 billion, according to the RBI data.
By Nijat Babayev
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