India's forex reserves hit record high at $692.3 billion

Indias foreign exchange reserves climbed for the sixth consecutive week to a record high of $692.3 billion as of September 20, according to data released by the Reserve Bank of India on Friday (September 27).

The reserves increased by $2.84 billion during the week, following a total rise of $19.3 billion over the previous five weeks.

Foreign currency assets, the largest component of the reserves, rose to $605.7 billion from $603.6 billion in the previous week.

Gold reserves increased, climbing to $63.6 billion from $62.9 billion. Special Drawing Rights (SDRs) stood at $18.5 billion, up from $18.4 billion.

Meanwhile the reserve tranche position with the International Monetary Fund (IMF) fell slightly to $4.46 billion from $4.52 billion.

 

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