India’s reserve position with the IMF declined by $58 million to $4.622 billion in the reporting week, central bank data showed.
India’s foreign exchange reserves rose by $2,299 billion to a new high of $683,987 billion during the week ended August 30, according to RBI data release on Friday.
During the previous reporting week, foreign exchange reserves had increased by $7.023 billion to a peak of $681.688 billion.
During the week ended Aug. 30, foreign currency assets, a major component of reserves, rose by $1.485 billion to $599.037 billion, the data showed.
Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-U.S. units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves rose by $862 million during the week to $61.859 billion. Special Drawing Rights (SDRs) rose by $9 million to $18.468 billion.
India’s reserve position with the IMF declined by $58 million to $4.622 billion in the reporting week, central bank data showed.
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First published: September 6, 2024 | 17:44 IS
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