India's Forex Reserves Surge to New Heights
India's forex reserves soared by USD 4.698 billion to reach USD 702.966 billion for the week ending September 12. This increase follows a previous rise of USD 4.038 billion. Foreign currency assets and gold reserves have significantly contributed to this surge, alongside a slight increase in SDRs and IMF reserve position.
- Country:
- India
India's forex reserves have witnessed a substantial surge, climbing USD 4.698 billion to reach an impressive USD 702.966 billion for the week ending September 12, as reported by the Reserve Bank of India on Friday.
The significant rise in foreign currency assets, which form a major component of these reserves, was noted alongside a remarkable increase in gold reserves by USD 2.12 billion, now standing at USD 92.419 billion.
Moreover, the country's reserve position with the International Monetary Fund and Special Drawing Rights (SDRs) also saw minor uplifts, contributing to the overall boost in India's forex holdings.
(With inputs from agencies.)
- READ MORE ON:
- India
- forex
- reserves
- Reserve Bank of India
- RBI
- gold
- foreign currency
- Special Drawing Rights
- SDRs
- IMF
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