India’s foreign exchange reserves surged by 12.4 billion US dollars (USD) to a record high of 729.3 billion US dollars during the week ended August 21.

According to the Reserve Bank of India data, Foreign currency assets, the largest component of the reserves, increased by 9.4 billion USD to 591.3 billion USD during the week. Gold reserves added 2.8 billion USD to 114.2 billion US dollars. Special Drawing Rights rose by 112 million USD to 18.8 billion USD.

Country’s reserve positions with the International Monetary Fund added 26 million USD to around 4.9 billion USD.