Mumbai, July 12 IANS | 4 months ago

India's foreign exchange reserves rose by USD 614.6 million to USD 316.39 billion for the week ended July 4, Reserve Bank of India (RBI) data showed.

The reserves had increased by $856.6 million to $315.77 billion for the week ended June 27, led by a sharp jump in overseas currency assets.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $760.6 million to $286.57 billion.

The foreign currency assets had grown by $850.9 million to $288.81 billion for the week ended June 27.

The RBI said that the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

India's reserve position with the International Monetary Fund (IMF) grew by $2.6 million to $1.71 billion.

The value of special drawing rights (SDRs) rose by $4.46 million to $6.9 billion.

However, the value of gold reserves declined by 155.5 million at $20.63 billion.

(Posted on 12-07-2014)

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