According to RBI statistics, India’s foreign exchange reserves increased by USD 4.698 billion to USD 702.966 billion for the week ending September 12.
Foreign Exchange Reserves Rise
For the week ending September 12, India’s foreign exchange reserves increased by USD 4.698 billion to USD 702.966 billion, the Reserve Bank of India said on Friday.
The total reserves rose USD 4.038 billion to USD 698.268 billion over the preceding reporting week.
The total reserves have increased to USD 694.23 billion from USD 3.51 billion.
Foreign Currency Assets Grow
According to figures issued on Friday, foreign currency assets, a significant part of the reserves, grew by USD 2.537 billion to USD 587.014 billion for the week ending September 5.
When expressed in US dollars, foreign currency assets include the impact of the growth or decline of non-US currencies held in foreign exchange reserves, such as the euro, pound, and yen.
Gold And SDRs Rise
According to the RBI, the gold reserves rose by USD 2.12 billion to USD 92.419 billion during the course of the week.
According to the apex bank, the Special Drawing Rights (SDRs) increased by USD 32 million to USD 18.773 billion.
According to apex bank statistics, India’s reserve position with the IMF increased by USD 9 million to USD 4.76 billion during the reporting week.