Mumbai: The country’s forex reserves touched a record high of USD 675 billion on August 2, Reserve Bank Governor Shaktikanta Das said on Thursday.
The previous all-time high for the kitty was USD 670.857 billion on July 19 this year, and the last reported reserve was USD 667.386 billion as on July 26.
Das said overall, the country’s external sector “remains resilient” as indicated by an improvement in key indicators.
The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee.
Changes in foreign currency assets are caused by the RBI’s intervention as well as the appreciation or depreciation of foreign assets held in the reserves.
Foreign exchange reserves also include India’s reserve tranche position in the International Monetary Fund.
The currency was trading at 83.95 on Thursday, after hitting a record low of 83.9725 in the previous session.
