Forex kitty jumps by USD 14.361 billion to new peak of USD 723.774 billion

Mumbai: India's forex reserves jumped by another USD 14.361 billion to a new all-time high of USD 723.774 billion during the week ended January 30, the Reserve Bank said on Friday.

In the previous reporting week, the forex kitty had increased by USD 8.053 billion to USD 709.413 billion, surging past the earlier all-time high of USD 704.89 billion recorded in September 2024.

For the week ended January 30, foreign currency assets, a major component of the reserves, decreased by USD 493 million to USD 562.392 billion, the data released by the central bank showed.

Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.

Value of gold reserves soared by USD 14.595 billion to USD 137.683 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 216 million to USD 18.953 billion, the apex bank said.

India's reserve position with the IMF was also up by USD 44 million to USD 4.746 billion in the reporting week, according to the apex bank's data.