Forex Reserves Jump to Over $693 Billion

• India's forex reserves rose $4.368B to $693.318B week ending Dec 19, RBI reported.
• Gold reserves increased by $2.623B, reaching $110.365B during the week.
• Foreign currency assets, a major component, increased to $559.428B.

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.

India's Forex Reserves Decline $688.104 Billion During The Week Ended November 21 Due To A Steep Decrease In Value Of Gold Reserves

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. 

Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.