Forex reserve jump $9.70 billion to all-time high of $666.85 billion

Forex reserves jumped by $9.699 billion, with increase in foreign currency assets and gold reserves

As on July 12, the foreign currency assets increased by $8.361 billion to $585.47 billion, according to RBI data. Image used for representation purpose only. | Photo Credit: Reuters

Forex reserves jumped by $9.699 billion to an all-time high of $666.854 billion for the week ended on July 12, the Reserve Bank of India said on Friday.

In the previous reporting week, the kitty had increased by $5.158 billion to $657.155 billion, surpassing the previous high of $655.817 billion for the week ended June 7.

For the week ended July 12, foreign currency assets, a major component of the reserves, increased by $8.361 billion to $585.47 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 $1.231 billion to $58.663 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $76 million to $18.111 billion, the apex bank said.

India’s reserve position with the IMF was up by $32 million to $4.609 billion in the reporting week, the apex bank data showed.