Indias’s Forex reserve jumps $2 billion

India’s forex reserves jump more than 2 billion dollars to a new high of 683.9 billion dollar for the week ended August 30, as per the RBI figures released yesterday. This is the third consecutive weekly rise of forex reserves backed by healthy dollar inflows. In the past three weeks, reserves rose by 13.9 billion, RBI data showed.

The



data showed that foreign currency assets, a major component of the reserves, increased by 1.48 billion Dollar to 599 billion dollar. Gold reserves saw a surge of 862 million dollar to 61.86 billion dollar. Meanwhile, SDRs for the above mentioned week were up by 9 million dollar to stand at 18.47 billion dollar.