India’s forex reserves hit record high of USD 689.24 Bn

India’s foreign exchange reserves rose by 5.2 billion dollars to a record high of 689.24 billion dollars for the week ending August 30. According to data released by the Reserve Bank of India yesterday, the Foreign Currency Assets (FCAs) increased by 5.10 billion dollars to 604.1 billion dollars.

In dollar terms,



FCAs reflect changes in the value of non-US currencies, such as the euro, pound, and yen, held in the reserves. Gold reserves also saw a boost, rising by 129 million dollars to 61.98 billion dollars. Special Drawing Rights (SDRs) for the week were up by 4 million dollars, reaching 18.47 billion dollars.