- By Aditya Pratap Singh
- Fri, 13 Sep 2024 07:09 PM (IST)
- Source:JND
India Forex Reserve: The Reserve Bank of India (RBI) reported on Friday that India's foreign reserves increased by $5.248 billion to a new all-time high of $689.235 billion for the week ended September 6. The overall kitty increased by $2.299 billion to a record high of $683.987 billion for the previous reporting week. Foreign currency assets, a major component of reserves, increased by $5.107 billion to $604.144 billion for the week ended September 6, according to the data.
When expressed in dollar terms, foreign currency assets include the impact of appreciation or depreciation of non-U.S. units such as the euro, pound, and yen held in foreign currency reserves. Gold reserves increased by $129 million to $61.988 billion during the week, the RBI said.
The apex bank stated that special drawing rights (SDRs) increased by $4 million to $18.472 billion. The reporting week saw India's reserve position with the IMF increase by $9 million to $4.631 billion, according to apex bank data.
Rupee rises 6 paisa
The rupee rose 6 paise to 83.90 (provisional) against the US dollar on Friday on the back of weakness in the US currency in overseas markets and strong foreign capital inflows.
The rupee has been trading in a range as the Reserve Bank of India (RBI) keeps a tight grip on the domestic currency, forex dealers said. The local unit opened at 83.92 on the interbank foreign exchange market and witnessed an intraday high of 83.85 and a low of 83.98 against the US currency.
The domestic unit finally settled for the day at 83.90 (provisional), 6 paise higher than its previous close. The local unit was 3 paise higher at 83.96 against the US dollar on Thursday.
Also Read: Western Carriers IPO Subscribed 79% On Day 1 Of Bidding; Know GMP
(With PTI's Input)