India's Forex Reserves Rise $2.9 Billion to $619 Billion

Indias forex reserves jumped $2.975 billion to $619.072 billion for the week ended February 23, according to the latest RBI data. In the previous reporting week, the overall reserves had dropped $1.132 billion to $616.097 billion.

For the week ending February 23, the foreign currency assets, a major component of the reserves, increased by $2.405 billion to $548.188 billion.

Gold reserves increased by $472 million to $47.848 088 billion during the week, the RBI said.

The special drawing rights (SDRs) were up by $89 million to $18.197 billion, the apex bank said.

Indias reserve position with the IMF was up by $9 million to $4.839 billion in the reporting week, the apex bank data showed.

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