New Delhi. Foreign exchange reserves have increased for the 7th consecutive week. The country’s foreign exchange reserves increased by $ 14.14 billion to reach $ 707 billion in the week ending August 7. This is the highest level of foreign exchange reserves since March 13 this year.
The Reserve Bank of India (RBI) said in the data released on Friday that in the week ending August 7, the country’s foreign exchange reserves jumped by $ 14.14 billion to $ 707 billion.
In the last week, foreign exchange reserves stood at $692.87 billion with an increase of $10.512 billion. With this, the country’s foreign exchange reserves have crossed $700 billion for the first time since April 17.
According to RBI data, foreign currency assets, considered the most important component of foreign exchange reserves, also increased by $ 9.95 billion to $ 574.62 billion in the week ending August 7.
During this period, the value of gold reserves increased by $3.99 billion to $108.74 billion. Apart from this, Special Drawing Rights (SDR) increased by $ 79 million to reach $ 18.74 billion.
According to RBI data, the country’s reserves in the International Monetary Fund (IMF) have also increased by $ 116 million to $ 4.89 billion.
In the week ending February 27 this year, the country’s foreign exchange reserves had increased to an all-time high of $ 728.49 billion.