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September 7, 2024 10:29 AM

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Indias’s Forex reserve jumps $2 billion

India’s forex reserves jumped more than 2 billion dollars to a new high of 683.99 billion dollars for the week ended 30th of August. As per the RBI figures released yesterday, this is the third consecutive weekly rise of forex reserves backed by healthy dollar inflows. According to the RBI data, in the past three weeks, reserves rose by 13.9 billion. The data showed that foreign currency assets, a major component of the reserves, increased by 1.48 billion dollars to 599 billion dollars. Gold reserves saw a surge of 862 million dollars to 61.86 billion dollars. Meanwhile, Special Drawing Rights (SDRs) were up by 9 million dollars to stand at 18.47 billion dollars.