India's forex reserves jump to record high of $666.85 billion as on July 12: RBI

Gold reserves increased by USD 1.231 billion to USD 58.663 billion during the week, the RBI said.

Updated on: Jul 19, 2024, 17:29:36 IST

By HT News Desk

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India's forex reserves jumped by USD 9.699 billion to an all-time high of USD 666.854 billion for the week ended July 12, the RBI said on Friday.

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai. (Reuters)

In the previous reporting week, the kitty had increased by USD 5.158 billion to USD 657.155 billion, surpassing the previous high of USD 655.817 billion for the week ended June 7.

For the week ended July 12, foreign currency assets, a major component of the reserves, increased by USD 8.361 billion to USD 585.47 billion, the data released on Friday showed.

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.

Gold reserves increased by USD 1.231 billion to USD 58.663 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 76 million to USD 18.111 billion, the apex bank said.

India's reserve position with the IMF was up by USD 32 million to USD 4.609 billion in the reporting week, the apex bank data showed.

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