After declining for two consecutive weeks, the country’s forex reserves surged $4.34 billion to $581.21 billion in the week ended April 9, according to the latest RBI data.
In the previous week, ended April 2, the reserves had dipped by $2.42 billion to $576.28 billion. They had dropped by $2.99 billion to $579.28 billion in the week ended March 26.
In the reporting week ended April 9, the increase in forex reserves was on account of a rise in foreign currency assets.