Forex reserves rise above $700 billion

India~s forex reserves jumped USD 4.698 billion in the week ending on September 12 to reach a high of USD 702.966 billion, the Reserve Bank of India (RBI) said on Friday. Foreign currency assets increased USD 2.537 billion to USD 587.014 billion. The gold reserves increased USD 2.12 billion to USD 92.419 billion during the week. Special Drawing Rights (SDRs) were up by USD 32 million to USD 18.773 billion. India~s reserve position with the IMF was up by USD 9 million at USD 4.76 billion in the reporting week, the apex bank data showed.

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