Foreign exchange reserves increase $392 million to $687.19 billion

India's forex reserves increased by $392 million to $687.19 billion during the week ended January 9, the Reserve Bank of India said on Friday.

In the previous reporting week, the overall kitty had dropped by $9.809 billion to $686.80 billion.

For the week ended January 9, foreign currency assets, a major component of reserves, decreased by $1.124 billion to $550.866 billion, the central bank's data showed.

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

Value of the gold reserves jumped by $1.568 billion to $112.83 billion during the week, the RBI said.

 

The Special Drawing Rights (SDRs) were down by $39 million to $18.739 billion, the apex bank said.

India's reserve position with the IMF was down by $13 million to $4.758 billion in the reporting week, according to the apex bank's data.