Business Standard

Forex reserves jump $4.3 bn to hit new all-time high of $655.8 bn

The previous high for the kitty -- a crucial guard against any disturbances in the external sector -- was USD 648.87 billion on May 10. In the past few weeks, reserves have witnessed handsome jumps

dollars

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.

Press Trust of India Mumbai

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India's forex reserves jumped $4.307 billion to a new all-time high of $655.817 billion for the week ended June 7, the Reserve Bank of India (RBI) on Friday.

The kitty had jumped $4.837 billion to $651.51 billion in the previous reporting week.

The previous high for the kitty -- a crucial guard against any disturbances in the external sector -- was $648.87 billion on May 10. In the past few weeks, the reserves have witnessed handsome jumps.

For the week ended June 7, foreign currency assets, a major component of the reserves, increased by $3.773 billion to $576.337 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 $481 million to $56.982 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up $43 million to $18.161 billion, the apex bank said.

India's reserve position with the IMF was up $10 million to $4.336 billion in the reporting week, the apex bank data showed.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 14 2024 | 5:43 PM IST

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