India's forex reserves rise $2.29 billion to $698.95 billion

New Delhi: India's forex reserves rose USD 2.294 billion to USD 698.95 billion for the week ended June 13, the RBI said on Friday.

The overall reserves had increased by USD 5.17 billion to USD 696.65 billion for the previous reporting week ended June 6.

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

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For the week ended June 13, foreign currency assets, a major component of the reserves, rose by USD 1.739 billion to USD 589.426 billion, the data released on Friday showed.

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 up by USD 428 million to USD 86.316 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) also rose by USD 85 million to USD 18.756 billion, the central bank said.

India's reserve position with the IMF also inched up by USD 43 million at USD 4.452 billion in the reporting week, the apex bank data showed.

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