India’s foreign exchange reserves climbed by $6.295 billion to $696.988 billion in the week ended May 8, the RBI said. The previous week saw reserves fall by $7.794 billion to $690.693 billion. The increase was driven by higher foreign currency assets, which rose by $562 million to $552.387 billion, and a major $5.637 billion jump in gold reserves to $120.853 billion. SDRs and India’s IMF reserve position also edged up.
India’s foreign exchange reserves fell by $7.794 billion to $690.693 billion by May 1, after a prior decline that followed a February record high. The drop was mainly driven by lower foreign currency assets and a sharp fall in gold reserves, adding fresh pressure on the rupee amid shifting global conditions.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
