Finance
India’s foreign reserves increased by USD 7.023 billion to a new high of USD 681.688 billion in the week ending August 23, the RBI announced on Friday.
The total reserves increased by USD 4.546 billion to USD 674.664 billion in the preceding reporting week.
The previous all-time high for overall reserves was USD 674.919 billion on August 2.
Foreign currency assets, a major component of reserves, rose by USD 5.983 billion to USD 597.552 billion in the week ending August 23, according to data issued on Friday.
Foreign currency assets, expressed in dollar terms, include the effect of non-US currency appreciation or depreciation in foreign exchange reserves, such as the euro, pound, and yen.
The RBI reported that gold reserves climbed by USD 893 million to USD 60.997 billion this week.
The apex bank reported that Special Drawing Rights (SDRs) increased by USD 118 million to USD 18.459 billion.
India’s reserve position with the IMF increased by USD 30 million to USD 4.68 billion during the reporting week, according to apex bank data.
Source:IE
