Forex Reserves of India: The country’s foreign exchange reserves rose by $223 million to a new all-time high of $689.46 billion in the week ended September 13. This information has come to light in the latest data released by the Reserve Bank of India (RBI) on Friday. Earlier, in the week ended September 6, India’s foreign exchange reserves rose by a strong $5.25 billion to a new record level of $689.23 billion.
The currency reserves have been increasing for the last several weeks
Let us tell you that India’s foreign exchange reserves are making new records every week. Before 6 September, in the week ending on 30 August, the country’s foreign exchange reserves had reached $ 683.99 billion with a jump of $ 2.29 billion, which was an all-time high till that week. In the previous week, that is, during the week ending on 23 August, the country’s foreign exchange reserves had reached $ 681.688 billion with a huge increase of $ 7.023 billion.
Decline recorded in foreign exchange assets
According to the data of the Reserve Bank of India, foreign currency assets, which are considered an important part of the currency reserves, fell by $ 515 million to $ 603.63 billion in the week ended September 13. Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies like Euro, Pound and Yen kept in the foreign exchange reserves.
The value of gold reserves also jumped
During the week that ended on September 13, the value of India’s gold reserves also increased by $899 million to $62.89 billion. Special Drawing Rights (SDR) fell by $53 million to $18.42 billion. According to Reserve Bank data, during this period, India’s reserves with the International Monetary Fund (IMF) fell by $108 million to $4.52 billion.
