India's forex reserves rise by $11.47 billion to hit record high of $740.80 billion as of August 28
Heavy inflows from special schemes and NRI deposits lifted reserves by $11.475 billion, giving the Reserve Bank of India more room to support the rupee.
- On Friday, the RBI released data showing India's foreign exchange reserves rose by $11.475 billion to reach an all-time high of $740.803 billion for the week ended August 28.
- The latest record comes after India's forex reserves surged by $12.422 billion to $729.328 billion in the week ended August 21, with foreign currency assets increasing by $9.337 billion.
- Gold reserves rose by $2.191 billion to $116.409 billion during the week, while the country's reserve position with the IMF decreased by $11 million to $4.914 billion.
- Special Drawing Rights stood at $18.81 billion, down $43 million from the previous week, while gold holdings have increased by $1.014 billion since the end of March.
- The RBI maintains a close watch on foreign exchange market developments, stepping in when necessary to ensure orderly conditions while refraining from targeting any specific exchange rate.
13 Articles
13 Articles
aninews.in
LatestlyIndia’s forex reserves hit record USD 740.8 billion in week ended Aug 28
India’s foreign exchange reserves rose sharply by USD 11.48 billion to a record USD 740.8 billion in the week ended August 28, according to data released by the Reserve Bank of India (RBI).
The Economic Times
Times of IndiaIndia's forex reserves rise by $11.47 billion to hit record high of $740.80 billion as of August 28
India's foreign exchange reserves saw a substantial increase of $11.475 billion. This brought the total reserves to $740.8 billion by August 28. The Reserve Bank of India monitors foreign exchange market developments closely. It intervenes when necessary to ensure orderly market conditions. The central bank refrains from targeting any specific exchange rate.
bhaskarlive.in
Indian Abroad News - We Bring You HomeAssocham lauds India's all-time high forex reserves at $740.8 bn
New Delhi, Sep 4 (IANS) Business chamber Assocham on Friday welcomed India’s foreign exchange reserves reaching a record high of $740.80 billion, as of August 28, reflecting a robust external sector...
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