India Forex Reserves Rise to USD 688.94 Billion

Mumbai, Dec 19 (PTI) India's forex reserves jumped by USD 1.689 billion to USD 688.949 billion during the week ended December 12, the Reserve Bank of India said on Friday.

In the previous reporting week, the overall reserves increased by USD 1.033 billion to USD 687.26 billion.

For the week ended December 12, foreign currency assets, a major component of the reserves, increased by USD 906 million to USD 557.787 billion, according to the data.


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 758 million to USD 107.741 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) surged by USD 14 million to USD 18.745 billion, the apex bank said.

India's reserve position with the IMF rose USD 11 million to USD 4.686 billion in the reporting week, according to the apex bank's data.