India’s foreign exchange reserves rise to $676.3 billion

India’s overseas trade reserves stood at $676.3 billion as of April 4, Reserve Financial institution of India Governor Sanjay Malhotra mentioned on Wednesday (April 9, 2025) the very best stage in 5 months and gaining for a fifth consecutive week.

The reserves rose by $10.9 billion within the reporting week, probably the most in a month, after rising by a cumulative $26.7 billion within the prior 4 weeks.

The reserves present an import cowl of about 11 months, Reserve Financial institution of India Governor Sanjay Malhotra mentioned, whereas saying the coverage determination.

India’s exterior sector stays “resilient”, Mr. Malhotra mentioned.

Adjustments in overseas foreign money belongings are brought on by the central financial institution’s intervention within the foreign exchange market in addition to the appreciation or depreciation of overseas belongings held within the reserves.

Within the week to April 4, the rupee gained 0.3% week-on-week, after the announcement of sweeping U.S. reciprocal tariffs jolted international foreign money markets and dragged the greenback decrease.

Buyers are grappling with a turbulent panorama within the wake of the tariff conflict and rising recession fears within the U.S.

The rupee was buying and selling at 86.53 per greenback on Wednesday from 86.58 earlier than the RBI’s coverage determination and 86.2650 within the earlier session.

Foreign exchange reserves embrace India’s Reserve tranche place on the Worldwide Financial Fund.