India’s Forex Reserves Rise by $1.56 Billion, Cross $677.8 Billion Mark

India’s foreign exchange reserves rose by 1.56 billion dollars, reaching over 677.8 billion dollars in the week ending April 11. According to the Weekly Statistical Supplement released by the Reserve Bank of India, during the last week, foreign currency assets, a major component of the reserves, were up by 892 million dollars to around 575 billion dollars. Gold reserves increased by 638 million dollars, totalling 79.99 billion dollars. Meanwhile, the Central Bank’s position in the International Monetary Fund was up by 43 million dollars, reaching 4.5 billion dollars, while Special Drawing Rights declined by 6 million dollars, reaching 18.35 billion dollars.