- September 20, 2024
Rising for 5th Week, India’s Forex Reserves Hit New All-Time High of $689.458 Billion – News18
For the week ended September 13, foreign currency assets, a major component of the reserves, however decreased by $555 million to $603.629 billion.
Gold reserves increased by $899 million to $62.887 billion during the week, the special drawing rights (SDRs) were down by $53 million to $18.419 billion, according to the latest RBI data.
Rising for the fifth week consecutively, India’s forex reserves jumped $223 million to a fresh all-time high of $689.458 billion for the week ended September 13, according to the latest official data released by the Reserve Bank of India on Friday. The overall kitty had jumped by $5.248 billion to a record $689.235 billion for the previous reporting week.
In nearly a month between August 9 and September 13, India’s foreign exchange rose by 2.88 per cent from $670.119 billion to $689.458.
However, for the week ended September 13, foreign currency assets, a major component of the reserves, decreased by $555 million to $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 $899 million to $62.887 billion during the week, the RBI said.
The special drawing rights (SDRs) were down by $53 million to $18.419 billion, the apex bank said.
India’s reserve position with the IMF slipped by $108 million to $4.523 billion in the reporting week, the apex bank data showed.
