Forex stocks swell $8.31 bn to $686.145 bn

Mumbai: India’s forex reserves jumped $8.31 billion to $686.145 billion for the week ended April 18, the RBI said on Friday. This is the seventh consecutive week of a rise in the kitty, which had jumped by $1.567 billion to $677.835 billion in the previous reporting week ended April 11.

For the week ended April 18, foreign currency assets increased by $3.516 billion to $578.495 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $4.575 billion to $84.572 billion during the week, the RBI said. The Special Drawing Rights were up by $212 million to $18.568 billion, the apex bank said. India’s reserve position with the IMF also rose by $7 million to $4.51 billion in the reporting week, the apex bank data showed.