India's foreign exchange reserves increase by $396 million to $702 billion

India’s foreign exchange reserves increased by $396 million to $702.5 billion in the week ended September 19, latest data from the Reserve Bank of India showed. The total reserves fell on the back of a decline in foreign currency assets, which decreased by $864 million during the reported week.

 

The reserves had hit a record high of $705 billion in September 2024.

 

Meanwhile, gold reserves increased by $360 million during the week. The special drawing rights (SDRs) were up $105 million to $18.8 billion. India’s reserve position with the International Monetary Fund (IMF) was also up by $2 million to $4.7 billion in the reporting week.