Forex Reserves Cross $698 Billion with Strong Weekly Gains

India’s foreign exchange reserves rose by $4.038 billion in the week ended September 5, reaching $698.268 billion, RBI data showed. This follows a $3.51 billion rise in the previous week.

Foreign currency assets (FCA) increased by $540 million to $584.477 billion, while gold reserves surged by $3.53 billion to $90.299 billion. India’s IMF reserve position rose modestly by $20 million to $4.751 billion, though Special Drawing Rights (SDRs) fell by $34 million to $18.782 billion.