India’s forex reserves up $67.7 million to $405.14 billion

India’s forex reserves up $67.7 million to $405.14 billion

MUMBAI: India’s forex reserves increased by USD 67.7 million to USD 405.143 billion for the week ended July 20, mainly due to a rise in foreign currency assets and gold reserves, RBI data showed today.nnThe overall forex reserves had decreased by USD 734.5 million to USD 405.075 billion in the previous reporting week.nnIn the week under review, foreign currency assets, a major component of the overall reserves, increased USD 46.8 million to USD 380.049 billion, the data showed.nnExpressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.nnGold reserves increased for the second consecutive week, up USD 24.9 million to USD 21.140 billion.nnThe special drawing rights with the International Monetary Fund (IMF) decreased by USD 1.8 million to USD 1.480 billion, while India’s reserve position with the IMF also declined by USD 2.2 million to USD 2.474 billion, the central bank said.nnSource: Press Trust of India

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