India's forex reserves rise USD 4.84 bn to USD 702.78 bn

India's forex reserves were up by USD 4.84 billion to USD 702.78 billion for the week ended June 27, the Reserve Bank of India said on Friday.

In the previous reporting week, the foreign exchange reserves had dropped by USD 1.01 billion to USD 697.93 billion.

The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024.

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

The gold reserves were down by USD 1.23 billion to USD 84.5 billion during the week ended June 27, the RBI said.

The Special Drawing Rights (SDRs) increased by USD 158 million to USD 18.83 billion, the apex bank said.

India's reserve position with the IMF also increased by USD 176 million to USD 4.62 billion in the reporting week, the apex bank data showed.