India’s forex reserve jumped by USD 4.758 billion to USD 640.479 billion in the week ended February 21, the Reserve Bank said on Friday. The reserves have been on a declining trend for the past several weeks due to revaluation along with forex market interventions by RBI. The forex kitty had increased to an all-time high of USD 704.885 billion in end-September 2024, the central bank said in a statement. The Special Drawing Rights (SDRs) were up by USD 73 million to USD 17.971 billion, it said. The Reserve Bank of India’s reserve position with the IMF was up by $7 million to $4.09 billion in this week’s reporting week, the apex bank said. It said 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. The SDRs were also up by £1 million to £1.1 billion.
