Business News | India’s Forex Reserves Hit Record USD 740.8 Billion in Week Ended Aug 28
Get latest articles and stories on Business at LatestLY. India’s foreign exchange reserves rose sharply by USD 11.48 billion to a record USD 740.8 billion in the week ended August 28, according to data released by the Reserve Bank of India (RBI).
Mumbai (Maharashtra) [India], September 4 (ANI): India’s foreign exchange reserves rose sharply by USD 11.48 billion to a record USD 740.8 billion in the week ended August 28, according to data released by the Reserve Bank of India (RBI).
The rise was largely driven by an increase in foreign currency assets.
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The RBI’s Weekly Statistical Supplement Bulletin, released on Friday, showed total reserves at USD 740.803 billion as of August 28, with an increase of USD 11.475 billion over the previous week.
Foreign currency assets, the largest component of the reserves, increased by USD 9.337 billion during the week to USD 600.670 billion.
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Gold reserves also recorded a strong increase during the week. The value of the RBI’s gold holdings rose by USD 2.191 billion to USD 116.409 billion.
Meanwhile, Special Drawing Rights (SDRs) declined by USD 43 million during the week to USD 18.810 billion, while India’s reserve position in the International Monetary Fund (IMF) fell by USD 11 million to USD 4.914 billion.
Compared with the end of March 2026, India’s total foreign exchange reserves have increased by USD 49.696 billion, while foreign currency assets have risen by USD 48.387 billion, the RBI data showed.
On a year-on-year basis, total reserves were higher by USD 46.574 billion. Foreign currency assets increased by USD 16.733 billion, while the value of gold reserves was higher by USD 29.641 billion over the same period. (ANI)
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