India's Forex Reserves Jump to USD 696.65 bn

Mumbai, Jun 13 (PTI) India's forex reserves increased by USD 5.17 billion to USD 696.65 billion for the week ended June 6, the RBI said on Friday.

The overall reserves had dropped by USD 1.237 billion to USD 691.485 billion for the week ended May 30.

Forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024.

For the week ended June 6, foreign currency assets, a major component of the reserves, rose by USD 3.47 billion to USD 587.68 billion, the data released on Friday showed.

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.

The gold reserves were up by USD 1.58 billion to USD 85.88 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) also rose by USD 102 million to USD 18.67 billion, the apex bank said.

India's reserve position with the IMF also inched up by USD 14 million at USD 4.4 billion in the reporting week, the apex bank data showed.