India's foreign exchange reserves reach new all-time high of $689.46 billion

Foreign Exchange / India's foreign exchange reserves reach new all-time high of $689.46 billion

Foreign Exchange - India's foreign exchange reserves reach new all-time high of $689.46 billion

Foreign Exchange: The country's foreign exchange reserves rose by $223 million to a new all-time high of $689.46 billion in the week ended September 13. This information has come to light in the latest data released by the Reserve Bank of India (RBI) on Friday. Earlier, in the week ended September 6, India's foreign exchange reserves rose by a strong $5.25 billion to a new record level of $689.23 billion.

The currency reserves have been increasing for the past several weeks

Let us tell you that India's foreign exchange reserves are making new records every week. Before September 6, in the week ended August 30, the country's foreign exchange reserves rose by $2.29 billion to $683.99 billion, which was the all-time high till that week. In the previous week, that is, during the week ending on August 23, the country's foreign exchange reserves had reached $681.688 billion with a huge increase of $7.023 billion.

Fall in foreign exchange assets

According to the data of the Reserve Bank of India, in the week ending on September 13, foreign exchange assets, which are considered an important part of the currency reserves, fell by $515 million to $603.63 billion. Foreign exchange assets mentioned in dollar terms include the effect of the increase or decrease in non-US currencies like Euro, Pound and Yen kept in the foreign exchange reserves.

Value of gold reserves also increased

During the week ending on September 13, the value of India's gold reserves also increased by $899 million to $62.89 billion. Special Drawing Rights (SDR) fell by $53 million to $18.42 billion. According to Reserve Bank data, during this period India's reserve position with the International Monetary Fund (IMF) fell by $108 million to $4.52 billion.