India forex reserves jumps $14.14 billion to $707 billion

India?s forex reserves jumped USD 14.136 billion to USD 707.002 billion during the week ended August 7, the Reserve Bank said on Friday.

For the week ended August 7, foreign currency assets, a major component of the reserves, increased USD 9.946 billion to USD 574.625 billion.

Value of gold reserves increased USD 3.995 billion to USD 108.738 billion during the week. The special drawing rights (SDRs) were up USD 79 million at USD 18.745 billion.

India?s reserve position with the IMF was also up by USD 116 million to USD 4.894 billion at the end of the reporting week, according to the apex bank?s data.

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