India’s Forex Reserves Rise by $1.98 Billion to $688.13 Billion

India’s foreign exchange reserves rose by 1.98 billion dollars, reaching 688.13 billion dollars in the week ending April 25. 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 2.17 billion dollars to around 580.6 billion dollars. Meanwhile, Special Drawing Rights were up by 21 million dollars, reaching 18.59 billion dollars, and the Central Bank’s position in the International Monetary Fund was also up by 2 million dollars, reaching 4.51 billion dollars. However, gold reserves decreased by 207 million dollars, totalling 84.37 billion dollars.