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India’s forex reserves jumped by a record $44.9 billion to a new lifetime high of $785.71 billion during the week ended September 4, the RBI said . In the previous reporting week, the overall reserves increased $11.47 billion to a new all-time high of $740.8 billion.
The kitty had been declining since the start of the conflict in West Asia earlier this year, as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales.
- Foreign currency assets: Rose by $47.5 billion to $648.17 billion.
- Gold reserves: Decreased by $2.59 billion to $113.82 billion.
- Special drawing rights (SDRs): Down by $4 million to $18.81 billion.
- IMF reserve position: Up by $2 million to $4.92 billion
For the week ended September 4, foreign currency assets, a major component of the reserves, increased $47.5 billion to $648.168 billion, the central bank’s data showed.
