Forex reserves jump by $7.533 bn to record $674.91 bn

August 09, 2024 20:31

India's forex reserves jumped by $7.533 billion to a new record high of $674.919 billion for the week ended August 2, the Reserve Bank said on Friday.

The overall kitty had dropped by $3.471 billion to $667.386 billion in the previous reporting week ended July 26.

The previous high for the reserves had stood at $670.857 billion, reached on July 18.

For the week ended August 2, foreign currency assets, a major component of the reserves, increased by $5.162 billion to $592.039 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 $2.404 billion to $60.099 billion during the week, the RBI said. -- PTI

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