India's forex reserves increase by US$ 689 million to US$ 584.55 billion
- IBEF
- March 8, 2021
The Reserve Bank of India stated on Friday that India's foreign exchange reserves increased for the second week in a row, reaching US$ 584.554 billion as of February 26, 2021, increased by US$ 689 million.
In the previous reporting week, total reserves increased by US$ 169 million to US$ 583.865 billion. For the week ended January 29, 2021, the reserves had reached an all-time high of US$ 590.185 billion, after gradually rising in recent months.
The RBI reported that core currency assets, the largest component of overall reserves, increased by US$ 509 million to reach US$ 542.615 billion in the week ending February 26, 2021.
The apex bank data showed that gold reserves increased by US$ 172 million to reach US$ 35.421 billion in the reporting week.
The International Monetary Fund's (IMF) special drawing rights (SDRs) increased by US$ 9 million to reach US$ 1.517 billion in the reporting week, according to the survey.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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