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India’s forex reserves on way to reclaim all-time high of $704.8 billion

April 26, 2025

New Delhi, April 26

India’s foreign exchange reserves have risen to the highest-level since November last year to $686.14 billion, which shows a resilient economy amid global uncertainties.

According to data from the Reserve Bank of India (RBI), the country's forex kitty swelled by $8.31 billion for the period ended April 18, over the previous reporting week, which is the seventh consecutive advance.

The reserves had added $1.57 billion in the week ended April 11.

Forex reserves have steadily recovered after a steep fall from their peak of $700 billion at the end of September. The overall forex kitty witnessed an all-time high of $704.885 billion in September 2024.

For the week ended April 18, foreign currency assets — a major component of the reserves — rose to $578.49 billion, according to the RBI data.

The RBI reported that gold reserves saw an increase of $4.575 billion, reaching $84.572 billion during this period. According to the apex bank, Special Drawing Rights (SDRs) increased by $212 million to $18.568 billion.

The data showed that India's reserve position with the IMF registered an increase of $7 million, reaching $4.51 billion in the reporting week.

 

 

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