Forex Reserves Swell $2.83 Bn To Record $692.296 Bn

Mumbai: 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 had 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 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 $726 million to $63.613 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $121 million to $18.54 billion, the apex bank said. India’s reserve position with the IMF was down by $66 million to $4.458 billion in the reporting week, the apex bank data showed.