MUMBAI: The country’s foreign exchange reserves continue to hit new highs for the seventh week on the trot adding close to $3 billion to touch a new high of $648.56 billion for the week ending April 5, driven mainly by record run that gold has seen of late, show the latest data from the RBI.
In the previous reporting week ending March 29, too, the reserves had added $2.96 billion while for the reporting week the addition has been $2.98 billion.
The reserves accretion has been led by the yellow metal, which has been on fire for many months now. The RBI has been adding to the gold reserves of late, and has snapped up 2 tonne in 2024 alone.
As per the latest weekly statistical supplement from the central bank, foreign currency assets, major component of the forex assets, rose by $549 million to $571.17 billion, while gold reserves grew by $2.4 billion to $54.56 billion.