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Forex reserves jump $5.16 bn to $657.16 bn
July 12, 2024

India's forex reserves jumped $5.158 billion to $657.155 billion during the week ended July 5, the Reserve Bank of India said on Friday. 

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 Friday. 

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US 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. -- PTI
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