India's foreign exchange reserves have reached a high of 5 months, up to $ 665.4 billion

Mumbai, April 4 (IANS). According to the latest data released by the Reserve Bank of India on Friday, India’s foreign exchange reserves rose $ 6.6 billion to a peak of five months from $ 665.4 billion in the week ended 28 March 2025. This is the fourth consecutive week of foreign exchange reserves increase after growing $ 4.5 billion to $ 658.8 billion during the week ended March 21. The trend of last week’s decline has now been reversed in the past four weeks to help the RBI evaluation and the intervention in the foreign exchange market to reduce the instability in the rupee. Earlier, the country’s foreign exchange reserves increased to a peak of $ 704.885 billion in September 2024. The country’s foreign exchange reserves strengthen the rupee against the US dollar, which is good for the economy. The rupee has also strengthened with the recent increase in foreign exchange reserves. The increase in foreign exchange reserves reflects the strong foundations of the economy and gives the RBI more room to stabilize it as the rupee varies. Strong foreign exchange reserves enable the RBI to interfere with the place and forty currency market by releasing more dollars to prevent the rupee from falling. At the same time, the falling foreign exchange reserves give RBI less space to interfere in the market to support the rupee. According to the latest data released by the Ministry of Trade and Industry, the Indian goods trading deficit dropped to $ 14.05 billion in February, a minimum level of three years. It was $ 22.99 billion in January. During this time, the export remained stable while importing decreased. This reflects the strength of the economy in the external sector despite geopolitical tensions that create economic uncertainty in the global market. Exports of the country’s goods rose 1.3 percent to $ 36.91 billion in February, compared to $ 36.43 billion in January. At the same time, imports fell by 16.3 percent to $ 50.96 billion, compared to $ 59.42 billion last month. -Ians skt/abm