India’s forex kitty jumps $5.2 billion to a fresh high of $689 billion
foreign exchange reserves scaled a new high of $689.235 billion at the end of September 6, the Reserve Bank of India data showed.
Forex reserves rose $5.248 billion in the week ending September 6, making it the fourth consecutive weekly rise backed by healthy dollar inflows. In the past four weeks, reserves rose by $19.2 billion.
The RBI does not give reasons behind the rise or fall of forex reserves.
According to the granular data, India's foreign currency assets in the reporting week rose by $5.107 billion to $604.144 billion. The foreign currency assets reflect the effect of appreciation or depreciation of the reserves held in other global currencies like the euro, pound and yen.
Reserves held in gold rose $129 million to $62 billion, RBI data showed.
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