India’s forex reserves jump $5.17 billion to reach record $696.6 billion

India’s foreign exchange reserves rose over 5.17 billion dollars, reaching 696.6 billion dollars in the week ending 6th June. According to the Weekly Statistical Supplement released by the Reserve Bank of India, during the last week, foreign currency assets, a major component of the reserves, were up by over 3.4 billion dollars to over 587.6 billion dollars. Gold reserves surged



by over 1.5 billion dollars, totaling 85.88 billion dollars. 

Meanwhile, Special Drawing Rights were up by 102 million dollars, reaching over 18.67 billion dollars, and the Central Bank’s position in the International Monetary Fund was also up by 14 million dollars, reaching 4.4 billion dollars.