India's Forex Reserves Hit Record High of $689.45 Billion

Mumbai, Sep 20 (PTI) India's forex reserves rose by USD 223 million to a new all-time high of USD 689.458 billion for the week ended on September 13, according to the Reserve Bank data released on Friday.

The overall forex kitty had jumped by USD 5.248 billion to a high of USD 689.235 billion for the previous reporting week ended on September 6.

For the week ended September 13, foreign currency assets, a major component of the reserves, however decreased by USD 515 million to USD 603.629 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 899 million to USD 62.887 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) dropped by USD 53 million to USD 18.419 billion, the apex bank said.

India's reserve position with the IMF declined by USD 108 million to USD 4.523 billion in the reporting week, the apex bank data showed.