New Delhi, April 27 -- India's foreign exchange reserves rose by USD 8.310 billion to USD 686.145 billion in the week ending April 18, according to data released by the Reserve Bank of India (RBI).

This marks the seventh consecutive week of gains in forex reserves. Prior to this recovery, reserves had seen a decline for nearly four months after reaching an all-time high of USD 704.89 billion in September. The fall was likely due to RBI interventions aimed at curbing sharp depreciation of the Rupee, which is now trading at or near its historic low against the US Dollar.

In 2023, India added approximately USD 58 billion to its forex reserves, in contrast to a cumulative decline of USD 71 billion in 2022. In 2024 so far, reserves have rise...