Forex Reserves Rise $4.37 Billion Upward, Shattering $693 Billion Barrier

Mumbai: India's forex reserves jumped by USD 4.368 billion to USD 693.318 billion during the week ended December 19, the Reserve Bank said on Friday. The overall kitty had increased by USD 1.689 billion to USD 688.949 billion in the previous week. For the week ended December 19, foreign currency assets, a major component of the reserves, increased by USD 1.641 billion to USD 559.428 billion, the data released by the central bank showed.

Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of the gold reserves increased by USD 2.623 billion to USD 110.365 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 8 million to USD 18.744 billion. India's reserve position with the IMF was up by USD 95 million to USD 4.782 billion in the week, according to the RBI data. 

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