The latest record comes after India’s forex reserves surged by $12.422 billion to $729.328 billion in the previous week ended August 21.
In addition, foreign currency assets (FCA), the largest component of reserves, increased by $9.337 billion during the week to $600.67 billion.
While FCA holdings were up $48.387 billion from end-March and $16.73 billion higher than a year ago.
Moreover, gold reserves rose by $2.191 billion on the week to $116.409 billion. And, gold holdings have increased by $1.014 billion since the end of March and were higher by $29.641 billion from a year earlier.
India’s Special Drawing Rights (SDRs) with the International Monetary Fund stood at $18.81 billion, down $43 million from the previous week. SDR holdings were up $188 million from end-March.
The country’s reserve position with the IMF decreased by $11 million during the week to $4.914 billion. It was up $106 million from end-March.
The RBI continues to keep a close watch on developments in the foreign exchange market and steps in whenever required to maintain orderly market conditions, while refraining from targeting any specific exchange rate.