Business: Due to the rise in the value of gold reserves, India's foreign exchange reserves have once again reached a new historical high. Releasing the data, the Reserve Bank of India (RBI) said that as of September 13, 2024, India's foreign exchange reserves have reached $ 689.48 billion with a jump of $ 223 million, which was $ 689.23 billion last week. 

The Reserve Bank of India, the regulator of the banking sector, has released the data of foreign exchange reserves on 20 September 2024. According to this data, the foreign currency reserve has increased by $ 223 million to $ 689.45 billion. However, there has been a decline in foreign currency assets during this period. Foreign currency assets have declined by $ 515 million to $ 603.62 billion. There has been a strong jump in the gold reserve of RBI and it has come down to $ 62.88 billion with a jump of $ 899 million. During this period, SDR has declined by $ 53 million to $ 18.41 billion. While the reserve deposited in the International Monetary Fund has declined by $ 108 million to $ 4.52 billion.  

In the currency market, the rupee has strengthened by 13 paise against the dollar and closed at the level of Rs 83.56, which was 83.69 in the previous session. It is being speculated that the RBI has intervened to stop the weakness of the rupee against the dollar, due to which the rupee has strengthened. 

Foreign portfolio investors (FPIs) have invested Rs 33,300 crore in the domestic equity market in the month of September, which is the second highest after the investment of Rs 35,100 crore in March 2024. This is the reason why the Indian stock market closed at an all-time high in the trading session of Friday 20 September 2024, due to which the foreign exchange reserves have reached an all-time high level. In the year 2024, India's foreign exchange reserves have seen a jump of more than $ 66 billion.