India’s forex stocks rise $5.248 bn to $689.235 bn

Mumbai: India’s forex reserves jumped $5.248 billion to a new all-time high of $689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday.

The overall kitty had jumped by $2.299 billion to a record $683.987 billion for the previous reporting

week.

For the week ended September 6, foreign currency assets, a major component of the reserves, increased by $5.107 billion to $604.144 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 $129 million to $61.988 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $4 million to $18.472 billion, the apex bank said.

India’s reserve position with the International Monetary Fund (IMF) was up by $9 million to $4.631 billion in the reporting week, the apex bank data showed.