Forex Reserves At Record High Of $681.7 Billion
August has seen Rs 7,320 crore and Rs 17,960 crore make its way into Indian bonds and equities respectively.
Source: Envato
India's foreign exchange reserves swelled to a record high of $681.7 billion for the week ended Aug. 23, the Reserve Bank of India's data showed on Friday. The country's forex kitty rose by $7.02 billion over the previous reporting week.
Foreign investors have pumped in Rs 1.64 lakh crore into the country's debt and equity markets so far this year, according to data from the National Securities Depository Ltd. The capital flow has largely gone into the domestic debt market, thanks to India's inclusion in the JPMorgan Global Emerging Market Bond Index.
August has seen Rs 7,320 crore and Rs 17,960 crore make its way into Indian bonds and equities, respectively.
For the week ended Aug. 23, foreign currency assets—a major component of the reserves—rose $5 billion to $597 billion, according to the data.
In dollar terms, foreign currency assets include the effect of the appreciation or depreciation of non-US units like the euro, pound and yen held in foreign exchange reserves.
Gold reserves increased $0.9 billion to $60 billion during the week.
India remains the fourth-highest foreign exchange reserve holder in the world. The reserves are equivalent to around 11 months of imports projected for fiscal 2025 and about 99% of total external debt outstanding at the end of March, the central bank said in its July bulletin.
