(Photo: Reuters)
(Photo: Reuters)

India's forex reserves at new life-time high of $430.57 bn: RBI data

  • In the previous reporting week ended on 2 August, the reserves had declined by $697.2 million to $428.952 billion
  • The country's gold reserves surged by $1.591 billion to $26.754 billion

Mumbai: India's foreign exchange reserves surged by $1.620 billion to $430.572 billion in the week to 9 August on rise in foreign currency assets, according to the latest RBI data released on Friday.

In the previous reporting week ended on 2 August, the reserves had declined by $697.2 million to $428.952 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, increased by $15.2 million to $398.739 billion, the apex bank said on Friday.

Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and yen held in the reserves.

The country's gold reserves surged by $1.591 billion to $26.754 billion, according to data.

Special drawing rights with the International Monetary Fund were up by $6.7 million to $1.441 billion.

The country's reserve position with the fund rose by $7 million to $3.636 billion.

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