India's Forex Reserves Surge to USD 622.469 Billion
By Rediff Money Desk, MUMBAI Feb 09, 2024 17:32
India's foreign exchange reserves jumped to USD 622.469 billion in the week ended February 2, driven by increases in foreign currency assets and gold reserves.
![India's Forex Reserves Surge to USD 622.469 Billion](https://im.rediff.com/money/2019/feb/22usd.jpg)
Mumbai, Feb 9 (PTI) India's forex reserves jumped by USD 5.736 billion to USD 622.469 billion for the week ended February 2, the Reserve Bank said on Friday.
In the previous week, the overall reserves had increased by USD 591 million to USD 616.733 billion.
In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed them to defend the rupee amid pressures caused majorly by global developments since last year.
For the week ended February 2, the foreign currency assets, a major component of the reserves, increased by USD 5.186 billion to USD 55.331 billion, as per the data of RBI.
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 foreign exchange reserves.
Gold reserves increased by USD 608 million to USD 48.088 billion during the week, RBI said.
Special Drawing Rights (SDRs) were down by USD 58 million to USD 18.19 billion, the central bank said.
India's reserve position with the IMF was unchanged at USD 4.86 billion in the week.
In the previous week, the overall reserves had increased by USD 591 million to USD 616.733 billion.
In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed them to defend the rupee amid pressures caused majorly by global developments since last year.
For the week ended February 2, the foreign currency assets, a major component of the reserves, increased by USD 5.186 billion to USD 55.331 billion, as per the data of RBI.
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 foreign exchange reserves.
Gold reserves increased by USD 608 million to USD 48.088 billion during the week, RBI said.
Special Drawing Rights (SDRs) were down by USD 58 million to USD 18.19 billion, the central bank said.
India's reserve position with the IMF was unchanged at USD 4.86 billion in the week.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 17.90 ( -3.35)
- 166585989
- Alstone Textiles
- 0.75 (+ 8.70)
- 47681821
- GTL Infrastructure
- 3.27 (+ 4.81)
- 44040612
- Visagar Financial
- 0.91 (+ 12.35)
- 29755394
- YES Bank Ltd.
- 23.70 (+ 0.77)
- 22163699
MORE NEWS
![Piyush Goyal:...](https://im.rediff.com/80-80/money/2017/jan/11goyal.jpg)
Piyush Goyal: Govt Committed to Industrial...
Hyderabad, Jun 30 (PTI) Union Commerce Minister Piyush Goyal on Sunday said the...
![Piyush Goyal:...](https://im.rediff.com/80-80/money/2019/jan/23piyush.jpg)
Piyush Goyal: Govt Committed to Industrial...
Hyderabad, Jun 30 (PTI) Union Commerce Minister Piyush Goyal on Sunday said the...
![Indian Economy...](https://im.rediff.com/80-80/money/2020/nov/22economy.jpg)
Indian Economy Growth: Exports, Manufacturing &...
Mumbai, June 30 (PTI) Healthy increase in the country's exports, improvement in the...