India's forex reserves hit record high of $692.29 billion: RBI

SUMMARY

For the week ended September 20, foreign currency assets, a major component of the reserves, increased by $2.057 billion to $605.686 billion, the data released on Friday, September 27, showed.

India's forex reserves jumped by $2.838 billion to a new all-time high of $692.296 billion for the week ended September 20, the RBI said on Friday.

The overall kitty increased by $223 million to a new high of $689.458 billion for the previous reporting week.

For the week ended September 20, foreign currency assets, a major component of the reserves, increased by $2.057 billion to $605.686 billion, the data released on Friday, September 27, 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.

The RBI said that gold reserves increased by $726 million to $63.613 billion during the week.

The apex bank said that the special drawing rights (SDRs) were up by $121 million to $18.54 billion.

The apex bank data showed that India's reserve position with the IMF was down by $66 million to $4.458 billion in the reporting week.

Source: PTI