India's foreign exchange reserves rise by $4.7 billion to $693 billion

India's foreign exchange reserves rose by $4.7 billion to $693 billion for the week ending August 8, boosted by an increase in foreign currency assets, gold reserves, and IMF holdings

India’s foreign exchange reserves rose $4.7 billion to $693.62 billion in the week ended August 8,  data by the Reserve Bank of India (RBI) showed. The total reserves grew on the back of rising foreign currency assets, which increased by $2.3 billion during the reported week.

 

The reserves fell $9 billion in the  prior week. It had hit a record high of $705 billion in September 2024.

 

The rupee depreciated by 0.12 per cent during the reported week. The dollar index fell to 98.10. Dollar index measures the strength of the greenback against a basket of six major currencies. 

 

Gold reserves increased by $2.1 billion during the week. The special drawing rights (SDRs) were up $169 million to $18.7 billion.  

Source: RBI, Bloomberg