India’s foreign exchange reserves surged by $2.98 billion to reach a new peak of $648.562 billion as of April 5, announced the RBI. This marks a consecutive increase from the previous all-time high of $645.583 billion. Despite global pressures, including those caused by recent events, the reserves have steadily grown in recent months. Major contributors to this growth include foreign currency assets, which rose by $549 million to $571.166 billion, and gold reserves, which increased by $2.398 billion to $54.558 billion. The nation’s reserve position with the IMF also saw a minor uptick to $4.669 billion.
India’s Forex Reserves Hit Record High at $648.562 Billion
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/04/13140524/1711909900-19251-ezgif.com-avif-to-jpg-converter.jpg)