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Aug 29, 2020
8:05AM

India's foreign exchange reserves surge by USD 2.296 bn to USD 537.548 bn

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India's foreign exchange reserves rose by 2.296 billion US dollar to reach 537.548 billion US dollar in the week to August 21. The forex kitty had increased by 3.623 billion dollar to reach a record high of 538.191 billion US dollar in the week ended August 7.  Foreign Currency Assets rose by 2.618 billion dollar to 494.168 billion US dollar in the reporting week. The apex bank data showed the gold reserves were down by 331 million dollar in the reporting week to 37.264 billion US dollars.

The special drawing rights with the International Monetary Fund (IMF) rose 2 million dollar to 1.481 billion US dollar.

The country's reserve position with the IMF also increased by 6 million to 4.634 billion US dollar during the reporting week.

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