India’s foreign exchange reserves rise to $588.78 billion

India’s foreign exchange reserves increased marginally by $4.53 billion to $588.78 billion during the week ending April 28, according to Reserve Bank of India data released on Friday.

As per the data, India’s foreign currency assets, the biggest component of the forex reserves, rose by $4.99 billion to $519.48 billion.

During the week ending April 21, the country’s foreign exchange reserves had fallen by $2.164 billion to $584.248 billion.

Incidentally in October 2021, the country’s forex reserves had reached an all-time high of $645 billion.