Mumbai: India’s forex reserves jumped by $7.023 billion to touch a new high of $681.688 billion in the week ended August 23, the RBI said on Friday. The overall reserves had jumped by $4.546 billion to $674.664 billion in the previous reporting week.
The previous all-time high for the overall reserves was recorded at $674.919 billion as on August 2. For the week ended August 23, foreign currency assets, a major component of the reserves, increased by $5.983 billion to $597.552 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 $893 million to $60.997 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up by $118 million to $18.459 billion, the apex bank said. India’s reserve position with the IMF was up by $30 million to $4.68 billion in the reporting week, the apex bank data showed.
India’s foreign exchange reserves surged over $7 billion to a new record high of $681.68 billion in the week ending August 23, 2024, according to the RBI’s weekly statistical supplement. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
