India’s forex reserves rose by $963 million to $672.587 billion for the week ended June 19, as higher gold reserves offset declines in foreign currency assets, RBI data showed.
India’s forex reserves increased by USD 963 million to USD 672.587 billion during the week ended June 19, the RBI said on Friday.
In the previous reporting week, the overall reserves had dropped by USD 9.985 billion to USD 671.625 billion.
For the week ended June 19, foreign currency assets, a major component of the reserves, decreased by USD 3.072 billion to USD 541.217 billion, according to the RBI.
Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.
However, the value of gold reserves increased by USD 4.110 billion to USD 107.930 billion during the week, the RBI said.