India’s forex reserves grow $8.895 billion to new record high of $642.453 bn

Foreign currency assets (FCAs) grew by $8.213 billion to $579.813 billion this week, accounting for most of the gains.

According to Reserve Bank of India data (RBI), in the week ending September 3, 2021, India’s foreign exchange reserve increased by $8.895 billion to a new high of $642.453 billion, according to Reserve Bank of India data (RBI).

Foreign currency assets (FCAs) rose $8.213 billion to $579.813 billion during the week, accounting for most of the increase. The effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets when expressed in dollar terms.

In the week ending August 27, an SDR allocation of $17.86 billion pushed the country’s foreign reserves to a new high of $633.558 billion.

During the week under review, India’s reserve position at the IMF increased by $11 million to $5.121 billion.