India's forex reserves rise after falling for three weeks in row

India's foreign exchange reserves gained by USD 2.703 billion to USD 698.192 billion for the week ending July 25, after falling for three consecutive weeks, according to the official data released by the Reserve Bank of India (RBI). In the previous reporting week, the country's foreign exchange reserves dropped by USD 1.18 billion to USD 695.49 billion. In the week ending July 25, foreign currency assets, the major constituent of the forex reserves, rose USD 1.316 billion, at USD 588.926 billion. The Gold reserves, another major component of the forex, again witnessed an uptick, increasing by USD 1.206 billion to USD 85.704 billion. India's Special Drawing Rights (SDRs) with the global financial body, the International Monetary Fund (IMF), also rose by USD 126 million, reaching USD 18.809 billion.

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