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regular-article-logo Friday, 22 November 2024

India's forex reserves jump by $2.299 billion to fresh record of $683.987 billion

It must be noted that in the previous reporting week, the forex reserves had jumped by $7.023 billion to a high of $681.688 billion

PTI Mumbai Published 06.09.24, 05:42 PM
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India's forex reserves has jumped by $2.299 billion to a new high of $683.987 billion for the week ended on August 30, according to the RBI data release on Friday.

In the previous reporting week, the forex reserves had jumped by $7.023 billion to a high of $681.688 billion.

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For the week ended August 30, foreign currency assets, a major component of the reserves, increased by $1.485 billion to $599.037 billion, the data 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 $862 million to $61.859 billion during the week. The Special Drawing Rights (SDRs) were up by $9 million to $18.468 billion.

India's reserve position with the IMF was down by $58 million to $4.622 billion in the reporting week, the apex bank data showed.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

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