India's Forex Reserves Jump By USD 816 Million to USD 653.71 Billion

india's forex reserves jump by usd 816 million to usd 653.71 billion

India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion. The all-time high for the reserves is at USD 655.817 billion achieved on June 7.

For the week ended June 21, foreign currency assets, a major component of the reserves, decreased by USD 106 million to USD 574.134 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.

Gold reserves increased by USD 988 million to USD 56.956 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 57 million to USD 18.049 billion, the apex bank said. India's reserve position with the IMF was down by USD 9 million to USD 4.572 billion in the reporting week, the apex bank data showed.