Mumbai: India’s forex reserves jumped by $7.533 billion to a new record high of $674.919 billion for the week ended August 2, the Reserve Bank said on Friday. The overall kitty had dropped by $3.471 billion to $667.386 billion in the previous reporting week ended July 26.
The previous high for the reserves had stood at $670.857 billion, reached on July 18. For the week ended August 2, foreign currency assets, a major component of the reserves, increased by $5.162 billion to $592.039 billion, the data released on Friday 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 $2.404 billion to $60.099 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $41 million to $18.161 billion, the apex bank said. India’s reserve position with the IMF was up by $8 million to $4.62 billion in the reporting week, the apex bank data showed.
India’s foreign exchange reserves jumped to a new record high of $674.91 billion in the week ending August 2, 2024, according to RBI’s weekly statistical supplement. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
