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19 Nov 2024
India's forex reserves surged by $5.25 billion, reaching a new record high of $689.24 billion for the week ending September 6, according to the Reserve Bank of India (RBI). In the previous week, the reserves had increased by $2.3 billion to $683.99 billion.
Foreign currency assets, which form the largest part of the reserves, grew by $5.11 billion, reaching $604.14 billion. These assets reflect changes in non-US currencies such as the euro, pound, and yen within the reserves.
Gold reserves also rose by $129 million to $61.99 billion during the same period. The RBI reported that Special Drawing Rights (SDRs) increased by $4 million to $18.47 billion, while India’s reserve position with the International Monetary Fund (IMF) rose by $9 million to $4.63 billion.
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