India's Forex Reserves Hit All-Time High: USD 689.24 Billion
Sep 13, 2024 17:18
India's foreign exchange reserves surged to a new record high of USD 689.24 billion in the week ended September 6, driven by an increase in foreign currency assets and gold reserves.
Photograph: Lee Jae-Won/Reuters
Mumbai, Sep 13 (PTI) India's forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday.
The overall kitty had jumped by USD 2.299 billion to a record USD 683.987 billion for the previous reporting week.
For the week ended September 6, foreign currency assets, a major component of the reserves, increased by USD 5.107 billion to USD 604.144 billion, the data showed.
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.
Gold reserves increased by USD 129 million to USD 61.988 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up by USD 4 million to USD 18.472 billion, the apex bank said.
India's reserve position with the IMF was up by USD 9 million to USD 4.631 billion in the reporting week, the apex bank data showed.
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