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Forex reserve jumps by $9.70 bn to all-time high of $666.85 bn

July 19, 2024 19:43 IST
Source:PTI

India's forex reserves jumped by $9.7 billion to an all-time high of $666.85 billion for the week ended July 12, the RBI said on Friday.

Photograph: Dado Ruvic/Reuters

In the previous reporting week, the kitty had increased by $5.16 billion to $657.16 billion, surpassing the previous high of $655.82 billion for the week ended June 7.

 

For the week ended July 12, foreign currency assets, a major component of the reserves, increased by $8.36 billion to $585.47 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 by $1.23 billion to $58.66 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $76 million to $18.11 billion, the apex bank said.

India's reserve position with the IMF was up by $32 million to $4.61 billion in the reporting week, the apex bank data showed.

Source: PTI
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