Forex reserves up $67.7 mn to $405.14 bn on rise in foreign currency assets

India's forex reserves increased by $67.7 million to $405.143 billion for the week ended July 20, mainly due to a rise in foreign currency assets and gold reserves, RBI data showed on Friday.

The overall forex reserves had decreased by $734.5 million to $405.075 billion in the previous reporting week.

In the week under review, foreign currency assets, a major component of the overall reserves, increased $46.8 million to $380.049 billion, the data showed.

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

Gold reserves increased for the second consecutive week, up $24.9 million to $21.140 billion.

The special drawing rights with the International Monetary Fund (IMF) decreased by $1.8 million to $1.480 billion, while India's reserve position with the IMF also declined by $2.2 million to $2.474 billion, the central bank said.