India’s forex reserves increased $1.98 billion to $688.13 billion during the week ended April 25, the RBI said on Friday.

Illustration: Dado Ruvic/Reuters

This is the eighth consecutive week of a rise in the kitty, which had jumped 8.31 billion to $686.14 in the previous reporting week.

The forex reserves had touched an all-time high of $704.88 billion in end-September 2024.

For the week ended April 25, foreign currency assets, a major component of the reserves, increased $2.17 billion to $580.66 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 decreased $207 million to $84.36 billion during the week, the Reserve Bank of India said.

The Special Drawing Rights (SDRs) were up $21 million to $18.59 billion, the apex bank said.

India’s reserve position with the IMF was also up $2 million to $4.51 billion in the reporting week, the apex bank data showed.