Business: India's foreign exchange reserves have crossed $683 billion with a strong jump. The banking sector regulator Reserve Bank of India (RBI) has released the foreign exchange reserves data on Friday. According to this, in the week ended August 30, 2024, the foreign exchange reserve has reached a record figure of $683.987 billion with a jump of $2.299 billion. It had reached $681.688 billion with a jump of $7 billion a week earlier. According to RBI, foreign currency assets, gold reserves and special drawing rights have also increased this week. 

Foreign currency assets also saw a jump 

According to RBI, till August 30, foreign currency assets have also increased by $ 1.485 billion and reached $ 599.037 billion. A week ago, foreign currency assets had increased by $ 5.983 billion to $ 597.552 billion. Foreign currency assets are considered the largest part of foreign exchange reserves. Foreign currency assets see the rise and fall in the value of Euro, Pound and Yen. 

Gold reserve and SDR also increased 

RBI's Gold Reserves have also seen a huge jump. It has reached $61.859 billion with a jump of $862 million. A week ago, this figure had jumped by $893 million to $61 billion. According to the Reserve Bank, Special Drawing Rights have also increased by $9 million to $18.468 billion till August 30. A week ago, this figure was $18.45 billion with an increase of $118 million. 

Increase in foreign investment is leading to growth 

RBI has informed that the reserves in the International Monetary Fund (IMF) have decreased by $58 million to $4.622 billion. A week ago, this figure had increased by $30 million to $4.68 billion. Due to a strong increase in foreign portfolio investment in India, there has been an increase in foreign exchange reserves. Due to increased foreign investment in the year 2024, there has been a steady increase in foreign exchange reserves.