According to the RBI, foreign exchange reserves rose by $2.36 billion to $703.31 billion

According to the RBI, foreign exchange reserves rose by $2.36 billion to $703.31 billion

¨     According to RBI, for the week ending 17 April 2026, forex reserves increased by $2.36 billion to $703.31 billion.

¨   The rise reflects strength in foreign currency assets (FCA) and stability in the external sector.

¨     In the previous week (ending 10 April 2026), reserves rose by $3.825 billion.

¨     Total reserves then stood at $700.946 billion.

¨     Indicates a steady recovery after recent declines.

Foreign Currency Assets (FCA)

¨     FCA increased by $1.48 billion.

¨     Total FCA reached $557.46 billion.

¨     Includes major currencies like US Dollar, Euro, and Yen.

¨     Affected by global exchange rate fluctuations.

Reason for Earlier Decline

¨     Reserves had reached an all-time high of $728.494 billion in February 2026.

¨     Decline occurred due to geopolitical tensions in West Asia.

¨     This put pressure on the Indian Rupee.

¨     RBI intervened by selling US dollars in the market.