India’s Forex Reserves Jump $6.9 Billion to Record $692.7 Billion –

India’s foreign exchange reserves rose over 6.9 billion dollars, reaching 692.7 billion dollars in the week ending 23rd May. According to the Weekly Statistical Supplement releaased by the Reserve Bank of India, during the last week, foreign currency assets, a major component of the reserves, were up by 4.5 billion dollars to over 586.1 billion dollars. Gold reserves surged by over 2.3 billion dollars, totaling to 83.58 billion dollars. Meanwhile, Special Drawing Rights was up by 81 million dollars, reaching over 18.57 billion dollars and Central Bank’s position in the International Monetary Fund was also up by 30 million dollars, reaching 4.4 billion dollars.