New Delhi : India gold reserves rise by $2.238 billion to reach $95.017 billion during the week ended September 26, according to the Reserve Bank of India (RBI) data released on Friday.
The overall foreign exchange reserves stood at $700.236 billion in the reporting week, down from $702.57 billion in the previous week.
Foreign currency assets, which form the largest share of the reserves, totaled $581.757 billion. They fell during the week, reflecting changes in the valuation of major global currencies such as the euro, pound, and yen.
The Special Drawing Rights (SDRs) stood at $18.789 billion, while India’s reserve position with the International Monetary Fund (IMF) reached $4.673 billion during the reporting week, the data showed.
India’s forex reserves remain near record highs, providing a strong buffer against external shocks and boosting confidence among global investors.
Analysts note that the comfortable reserve position helps the RBI manage currency market volatility and supports the rupee during global uncertainties.
Meanwhile, in the previous week, gold reserves rose by $360 million to $92.78 billion. Foreign currency assets, the largest component, totaled $586.15 billion during that week.
The reserves also include SDRs and India’s IMF reserve position, which reached $18.88 billion and $4.76 billion, respectively. SDRs increased by $105 million, while the IMF reserve position rose by $2 million during the week ended September 19.
The RBI actively intervenes in the foreign exchange market through liquidity operations, including the sale of dollars, to manage volatility in the rupee. Officials said such interventions aim to maintain orderly market conditions rather than target a specific exchange rate.
–IANS
