Daijiworld Media Network - Mumbai

Mumbai, Apr 17: India’s foreign exchange reserves increased by $3.825 billion to $700.946 billion for the week ended April 10, according to data released by the Reserve Bank of India (RBI).

The reserves had risen by $9.063 billion to $697.121 billion in the previous week ended April 3. They had earlier touched an all-time high of $728.494 billion in the week ended February 27, before declining in subsequent weeks amid pressure on the rupee following tensions in the Middle East and RBI interventions through dollar sales.

During the latest reporting week, foreign currency assets, which form the largest component of the reserves, increased by $3.127 billion to $555.983 billion.

These assets are expressed in dollar terms and reflect the impact of fluctuations in non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves also rose by $601 million to $121.343 billion.

In addition, Special Drawing Rights (SDRs) increased by $56 million to $18.763 billion, while India’s reserve position with the International Monetary Fund (IMF) rose by $41 million to $4.857 billion, the RBI said.