India's forex reserves jump by $1.61 billion

The forex reserves rose for the first time in the last three weeks. The forex reserves kitty had dropped by $621 million and $1.86 billion respectively during the previous two weeks after surging to an all-time high of $319.08 billion recorded during the week ended July 29.

Foreign currency assets, the biggest component of the forex reserves kitty, rose by $1.58 billion to $285.25 billion during the week ended Aug 19, according to the weekly statistical supplement of the Reserve Bank of India.

The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.

The value of special drawing rights (SDRs) increased by $19 million to $4.63 billion and reserves with the International Monetary Fund rose by $12 million to $2.98 billion.
However, the value of gold reserves remained unchanged at $25.35 billion.

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