INDIA'S FOREX RISES

INDIA'S FOREX RESERVES SURGE BY $2.98 BILLION TO ALL-TIME HIGH OF $648.562 BILLION

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According to the data released by Reserve Bank of India on 12 April, India's forex jumped to $648.562 billion. 

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7th Consecutive Jump

This is the seventh consecutive week of a jump in overall reserves. Earlier, forex rose by $2.951 billion to $645.583 billion, which was an all-time high.
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All Time High

In September 2021, the country's forex kitty reached an all-time high of $642.453 billion. It was breached in March 2024.
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FCA Surges

The foreign currency assets increased by $549 million to $571.166 billion for the week ended April.
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Rise in Gold Reserves

Gold reserves surged by $2.398 billion to $54.558 billion during the week, said the RBI, adding the Special Drawing Rights (SDRs) were up by $24 million to $18.17 billion.
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Rupee Depreciation:

The Indian rupee depreciated 13 paise to close at 83.44 against the US dollar on Friday, , weighed down by a massive sell-off in domestic equities.
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