India forex reserves touch record high of 674.91 bln USD

NEW DELHI, Aug. 10 (Xinhua) — India’s foreign exchange (forex) reserves rose by 7.53 billion U.S. dollars to 674.91 billion U.S. dollars during the week ended August 2, revealed the official data released by the country’s central bank, the Reserve Bank of India (RBI) in its weekly supplement.
This was the new high for India’s forex reserves. The record jump was preceded by a decline of 3.471 billion U.S. dollars during the previous week ended July 26.
The foreign currency assets (FCAs), the biggest component of forex reserves, rose by 5.162 billion U.S. dollars to 592.039 billion U.S. dollars. Likewise, the gold reserves too jumped by 2.404 billion U.S. dollars to 60.099 billion U.S. dollars.
India’s forex reserves had risen by 45-50 billion U.S. dollars on a cumulative basis so far this year, said a media report by “Mint”. ■