India’s Forex Reserves Hit New All-Time High of $689.24 Billion, Jump $5.25 Billion

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For the week ended August 16, foreign currency assets, a major component of the reserves, increased by $5.107 billion to $604.144 billion.

India’s gold reserves rose $129 million to $61.988 billion during the week ended September 6.

India’s foreign exchange (forex) reserves jumped $5.248 billion to a new all-time high of $689.235 billion for the week ended September 6, according to the latest RBI data released on September 13. The reserves had increased by $2.299 billion to a record $683.987 billion for the previous reporting week.

India’s gold reserves rose $129 million to $61.988 billion during the week ended September 6, showed the RBI data.

During the week, foreign currency assets, a major component of the reserves, increased by $5.107 billion to $604.144 billion.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

The special drawing rights (SDRs) increased by $4 million to $18.472 billion, according to the RBI data.

India’s reserve position with the IMF was up by $9 million to $4.631 billion in the reporting week, the apex bank data showed.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More

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