Begin typing your search...

Forex reserves surge $4 bn to record $670.857 bn

image for illustrative purpose

Forex reserves surge $4 bn to record $670.857 bn
X

27 July 2024 11:13 AM IST

Mumbai: Surpassing the all-time high level achieved the previous week, India’s forex reserves jumped by another $4 billion to $670.857 billion for the seven days ended July 19, the Reserve Bank said on Friday.

The overall reserves had jumped by $9.699 billion to an all-time high of $666.854 billion in the week ended July 12. For the week ended July 19, foreign currency assets, a major component of the reserves, increased by $2.578 billion to $588.048 billion, the data released on Friday 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.

Gold reserves increased by $1.329 billion to $59.992 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $95 million to $18.207 billion, the apex bank said. India’s reserve position with the IMF were unchanged at $4.610 billion in the reporting week, the apex bank data showed.

India forex reserves Reserve Bank of India foreign currency assets gold reserves Special Drawing Rights IMF reserve position forex reserve increase financial data July 2024 dollar appreciation RBI report 
Next Story
Share it