India's forex kitty jumps USD 964 mn to USD 675.15 bn

Mumbai, Jul 17 (PTI) India's forex reserves jumped USD 964 million to USD 675.157 billion in the week ended July 10, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had jumped by USD 7.26 billion to USD 674.193 billion. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the onset of the West Asia conflict, which led to several weeks of drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. For the week ended July 10, foreign currency assets, a major component of the reserves, increased by USD 930 million to USD 546.508 billion, the central bank's data showed. 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 the foreign exchange reserves. Value of gold reserves increased by USD 24 million to USD 105.223 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 3 million at USD 18.626 billion, the apex bank said. India's reserve position with the IMF was also up by USD 7 million to USD 4.793 billion at the end of the reporting week, according to the apex bank's data. PTI AA BAL BAL