Mumbai— India’s foreign exchange reserves rose for the eighth consecutive week, reaching $688.13 billion as of April 25, according to data released Friday by the Reserve Bank of India (RBI). The reserves grew by $1.98 billion during the week.
The rise was largely driven by a $2.17 billion increase in foreign currency assets, which now stand at $580.66 billion. However, gold reserves declined by $207 million to $84.37 billion, while Special Drawing Rights (SDRs) edged up by $21 million to $18.59 billion.
This marks a reversal of the declining trend seen in recent months, when the RBI intervened in currency markets to stabilize the rupee amid global volatility. The current buildup enhances the RBI’s ability to manage currency fluctuations and reinforces investor confidence in India’s economic fundamentals.
India’s forex reserves had previously hit an all-time high of $704.89 billion in September 2024. A strong reserve position enables the RBI to step in effectively during periods of currency stress by supplying dollars to the market and stabilizing the rupee.
Meanwhile, India’s external sector continues to show strength despite global economic headwinds. Total exports reached a record $824.9 billion in FY 2024–25, marking a 6.01% increase over the previous year’s $778.1 billion.
Services exports led the growth, hitting an all-time high of $387.5 billion—up 13.6% from $341.1 billion a year earlier. In March 2025 alone, services exports totaled $35.6 billion, an 18.6% increase from the $30 billion recorded in March 2024.
Non-petroleum merchandise exports also posted strong gains, rising to a record $374.1 billion in FY 2024–25, up 6% from $352.9 billion in the prior year.
The combination of rising exports and a steady build-up in forex reserves highlights India’s improving macroeconomic resilience and growing role in the global trade landscape. (Source: IANS)
