Mumbai: India’s foreign exchange reserves fell by $2.412 billion to $637.922 billion on April 26, the third consecutive weekly decline in reserves, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, total reserves had declined by $2.28 billion to $640.33 billion. In the week ending April 5, reserves reached an all-time high of $648.562 billion after several weeks of increases. The previous high of $642.453 billion, achieved in September 2021, was surpassed in March this year.
For the week ended April 26, foreign currency assets – a key component of reserves – declined by $1.159 billion to $559.701 billion, according to data released on Friday. Expressed in dollar terms, foreign exchange assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves. The RBI said gold reserves declined by $1.275 billion to $55.533 billion during the week.
