India’s forex reserves jumped $4.549 billion to a new all-time high of $648.7 billion for the week ended May 17, the Reserve Bank said on Friday.
This is the third consecutive week of increase in the overall kitty, which had increased by $2.561 billion to $644.151 billion in the previous reporting week ended May 17.
For the week ended April 5, the reserves had hit an all time high of $648.562 billion following multiple weeks of increases.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
Gold reserves increased $1.244 billion to $57.195 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up $113 million to $18.168 billion, the apex bank said.