India?s forex reserves scontinue to rise

India's forex reserves gained $9.905 billion to $716.907 billion during the week ended August 14, the Reserve Bank of India (RBI) said on Friday. The foreign currency assets, a major component of the reserves, increased $7.225 billion to $581.851 billion. In the previous reporting week ended August 7, the overall kitty had spiked $14.136 billion to $707.002 billion. Reserves had expanded to an all-time high of $728.494 billion during the week ended February 27 this year. Value of gold reserves increased $2.679 billion to $111.417 billion during the week, the central bank said. The special drawing rights (SDRs) were down $5 million at $18.74 billion.

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