Mumbai, September 18 (Daily Kiran) : The Reserve Bank of India (RBI) reported on September 18 that India’s foreign exchange reserves remained stable at $780.78 billion for the week ending September 11. This figure follows a record high of $785.71 billion reached in the previous week, which saw an increase of $44.90 billion.
The largest component of India’s foreign exchange reserves is foreign currency assets (FCA), which stood at $648.17 billion as of September 4. During that week, FCA experienced a significant rise of $47.498 billion. Compared to the end of March, this amount is up by $95.886 billion, and it is $63.692 billion higher than the same period last year.
As of September 4, India’s gold reserves were valued at $113.816 billion. Despite experiencing some fluctuations during the week, this figure is $23.517 billion more than it was a year ago, although it is $1.580 billion lower than at the end of March.
India’s Special Drawing Rights (SDR) holdings with the International Monetary Fund (IMF) were reported at $18.806 billion, reflecting an increase of $184 million since the end of March and $64 million from the previous year.
Additionally, India’s reserve position with the IMF was $4.916 billion, which is $108 million higher than at the end of March and $168 million greater than the same period last year.
Overall, India’s foreign exchange reserves have increased by $94.599 billion since the end of March and by $87.438 billion compared to the same period last year. This robust level of reserves provides India with a buffer against external economic shocks and plays a crucial role in maintaining the country’s stability during fluctuations in global financial and currency markets.
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