India’s forex reserves jumped $5.158 billion to $657.155 billion during the week ended July 5, the Reserve Bank of India (RBI) said.
| Photo Credit: REUTERS
India’s forex reserves jumped $5.158 billion to $657.155 billion during the week ended July 5, the Reserve Bank of India (RBI) said on July 12.
The forex kitty had declined for the previous two consecutive weeks, dropping $1.713 billion to $651.997 billion for the week ended June 28.
The reserves had touched an all-time high of $655.817 billion as on June 7 this year.
For the week ended July 5, foreign currency assets, a major component of the reserves, increased $4.228 billion to $577.11 billion, as per the the data released on July 12.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-U.S. units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves increased $904 million to $57.432 billion during the week, the RBI said.
The Special Drawing Rights were up $21 million to $18.036 billion, the apex bank said.
India’s reserve position with the IMF was up $4 million to $4.578 billion in the reporting week, the apex bank data showed.
