India's Foreign Exchange Reserves Rise By $9.427 Billion To All-Time High Of $620.576 Billion

India's foreign exchange reserves rose by $9.427 billion during the week ended 30 July.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the forex reserves increased to record high of $620.576 billion from $611.149 billion reported for the week ended 23 July.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $8.596 billion to $576.224 billion.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

Similarly, the value of the country's gold reserves increased by $760 million to $37.644 billion.

Besides, the value of SDR jumped up by $6 million at $1.552 billion.

On the same note, the country's reserve position with the IMF inched higher by $65 million to $5.156 billion.