Forex Reserves Surge To $665.396 Billion

India's forex reserves increased by $6.596 billion to reach $665.396 billion in the week ended March 28, according to the RBI.

This marks the fourth consecutive week of growth after a period of decline caused by revaluation and the central bank's efforts to stabilise the rupee.

Foreign currency assets, the largest part of the reserves, rose by $6.158 billion to $565.014 billion.

In dollar terms, foreign currency assets include the effect of non-US currency appreciation or depreciation in foreign exchange reserves, such as the euro, pound, and yen.

Gold reserves grew by $519 million, reaching $77.793 billion. However, Special Drawing Rights dropped by $65 million to $18.176 billion, and India's IMF reserve position decreased by $16 million to $4.413 billion during the week.

The Indian rupee appreciated by 21 paise on Friday as lower oil prices and fears over the damage due to President Donald Trump's tariff policy to the US economy pressured the dollar.