Business News:India’s foreign exchange reserves rose by USD 4,546 billion to USD 674,664 billion during the week ended August 16, the Reserve Bank of India (RBI) said today (August 23). In the previous week, the foreign exchange pool had fallen by USD 4,800 billion to USD 670,119 billion. On August 2, total reserves touched an all-time high of USD 674,919 billion.
In the week ended Aug. 16, foreign currency assets, a major component of reserves, rose by $3.609 billion to $591.569 billion, data released Friday showed.
Gold reserves rose by $865 million to $60,104 million during the week, the RBI said. Special Drawing Rights (SDRs) rose by $60 million to $18,341 million. India’s reserve position with the IMF rose by $12 million to $4,650 million during the week.
India’s foreign exchange reserves fall by $4.8 billion to $670.11 billion
On August 16, India’s foreign exchange reserves fell by $4.8 billion to $670.119 billion during the week ended August 9, the Reserve Bank of India reported. In the previous week, the fund rose by $7.533 billion to a record high of $674.919 billion.
In the week ended Aug. 9, foreign currency assets, a major component of reserves, decreased by $4.079 billion to $587.96 billion, according to data released Friday. Expressed in dollar terms, foreign currency assets include the effect of the appreciation or depreciation of non-U.S. units, such as the euro, pound and yen, which are held in foreign exchange reserves.
Gold reserves declined by USD 860 million to USD 59,239 million during the week, the RBI said. Special Drawing Rights (SDRs) rose by USD 121 million to USD 18,282 million, the central bank said. India’s reserve position with the IMF rose by USD 18 million to USD 4,638 million in the reporting week, the central bank data showed.
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