India’s forex reserves swell $2.83 billion to a new high of $692.296 billion

For the week ended September 20, foreign currency assets, a major component of the reserves, increased by USD 2.057 billion to USD 605.686 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 USD 726 million to USD 63.613 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 121 million to USD 18.54 billion, the apex bank said.

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