India’s forex stocks swell by $2.838 bn to $692.296 bn

Mumbai: India’s forex reserves jumped by $2.838 billion to a new all-time high of $692.296 billion for the week ended September 20, the RBI said on Friday.

The overall kitty had increased by $223 million to a new high of $689.458 billion for the previous reporting week.

Foreign currency assets jumped by $2.057 billion to $605.686 billion, the data released on Friday showed. 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 rose by $726 million to $63.613 billion during the week, the RBI data said.

The Special Drawing Rights were up by $121 million to $18.54 billion, the RBI said.

India’s reserve position with the IMF was down by $66 million to $4.458 billion in the reporting week, the data showed.