Forex Reserves Jump $1.193 Billion To $582.4 Billion: RBI Data

RBI Data: Gold reserves increased by $34 million to $35.354 billion in the reporting week.

India's foreign exchange reserves rose by $1.193 billion to reach $582.406 billion in the week ended April 16, according to RBI data released on Friday. In the previous week ended April 9, the forex reserves had surged by $4.344 billion to $581.213 billion. The reserves had touched a lifetime high of $590.185 billion in the week ended January 29, 2021. In the week ended April 16, 2021, the increase in reserves was mainly due to a rise in foreign currency assets (FCAs), a major component of the overall reserves. FCAs rose by $1.13 billion to $540.585 billion, weekly data by the Reserve Bank of India (RBI) showed.