India’s Forex reserves surge to more than 2.7 bn dollars in July

India’s foreign exchange reserves rose more than 2.7 billion dollars, reaching over 698.19 billion dollars in the week ending on 25th of July. 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, increased by 1.3 billion dollars to around 589 billion dollars. Gold



reserves surged by over 1.2 billion dollars, totaling to over 85.7 billion dollars. 

Meanwhile, Special Drawing Rights were up by 126 million dollars, reaching over 18.8 billion dollars. Central Bank’s position in the International Monetary Fund was higher by 55 million dollars to 4.75 billion dollars.