India’s FX reserves climb by $4.5b – RBI data

India’s foreign exchange reserves increased by $4.5 billion to reach $674.664 billion in the week ending August 16, marking a turnaround from the previous week’s decline of $4.8 billion, as per latest data released by the Reserve Bank of India (RBI).

Foreign currency assets (FCAs) jumped by $3.6 billion to $587.9 billion in the latest week, according to the RBI’s Weekly Statistical Supplement.

India’s gold reserves also recorded an increase, rising by $865 million to $60.10 billion in the week ending August 16.

Meanwhile, the country’s Special Drawing Rights (SDR) holdings climbed by about $60 million to reach $18.34 billion.

Attribution: Reserve Bank of India data

Subediting: M. S. Salama