India’s Forex Reserves Surge by $15.26 Billion, Cross $653.96 Billion Mark –

India’s foreign exchange reserves surged by 15.26 billion dollars, reaching over 653.96 billion dollars in the week ending March 7, bolstered by the Reserve Bank of India’s (RBI) currency swap operations last month.

According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets, a major component of the reserves, were up by over 13.93 billion dollars to over 557.28 billion dollars. During the last week, gold reserves rose by 1 billion dollars, totalling over 74.32 billion dollars.

Special Drawing Rights increased by 212 million dollars, reaching 18.21 billion dollars and the Central Bank’s position in the IMF was up by 69 million dollars, reaching over 4.14 billion dollars.