India’s foreign exchange reserves rose by USD 12.4 billion to a record USD 729.3 billion in the week ended August 21, according to Reserve Bank of India data.
The increase took the country’s reserve holdings to their highest reported level. Foreign currency assets, the largest component of the reserves, grew by USD 9.4 billion during the week.
Reserve composition
The movement in foreign currency assets accounted for a significant part of the overall rise in reserves. The latest data highlights the role of this component in the record total reported for the period.
The new high provides an update on India’s external reserve position for the week ended August 21. No further breakdown of the reserve components is available in the supplied material.
