Surge in India’s foreign exchange reserves

India’s foreign exchange reserves surged by 6.6 billion dollars, reaching over 665.4 billion dollars in the week ending March 28. 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 over 6.15 billion dollars to over 565 billion



dollars. 

Gold reserves increased by over 519 million dollars, totaling over 77.79 billion dollars. Conversely, Special Drawing Rights declined by 65 million dollars, reaching 18.17 billion dollars and the Central Bank’s position in the International Monetary Fund was down by 16 million dollars, reaching over 4.41 billion dollars.