MUMBAI: Despite substantial dollar sales and significant pressure on the rupee, forex reserves increased by USD 2.3 billion, reaching a new high of just under USD 684 billion for the week ending August 30.
According to the latest Reserve Bank data released on Friday, for the week reporting week, the forex reserves jumped by USD 2.299 billion to a new high of USD 683.987 billion.
In the previous reporting week, the reserves had jumped by USD 7.023 billion to a high of USD 681.688 billion.
Foreign currency assets, which are the largest component of the reserves, rose by USD 1.485 billion to USD 599.037 billion, the data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, the British pound and the Japanese yen held in the foreign exchange reserves.
Gold reserves increased by USD 862 million to USD 61.859 billion during the week.
While the country’s reserve position with the IMF declined by USD 58 million to USD 4.622 billion, the special drawing rights with the Fund rose by USD 9 million to USD 18.468 billion.