India's foreign exchange reserves rose USD 4.529 billion to USD 658.800 billion in the week that ended on March 21, extending gains for the third straight week, official data released by RBI showed.
Foreign exchange reserves, or FX reserves, are assets held by a nation's central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
The Indian rupee has been steeply depreciating for the past few weeks. It fell to a record low of 87.29 per dollar on Monday, weighed down by concerns over trade tariffs imposed by US President Donald Trump and global market uncertainties.
India's foreign exchange reserves continue to decline, extending their slump for about four months now. India's forex reserves have slumped fifteen out of the past sixteen weeks, hitting about an 11-month low.
India's foreign exchange reserves (Forex) continue to decline, extending their slump for the sixth consecutive week, standing at USD 625.87 billion as of January 10, according to the weekly data released by the Reserve Bank of India (RBI).
India's foreign exchange reserves continue to decline, extending their slump for over three months now. India's forex reserves have slumped thirteen out of the past fourteen weeks, hitting about a 10-month low.
In the week that ended December 27, the country's foreign exchange kitty declined by USD 4.112 billion to USD 640.279 billion, data from the Reserve Bank of India (RBI) showed.