India's forex reserves up by $4.88 billion to record high of $728.5 billion

India's foreign exchange reserves went up by $4.88 billion to reach record high of $728.5 billion in the week ending February 27, latest data released by the Reserve Bank of India (RBI) showed.

For the week ended February 20, foreign currency assets, a major component of the reserves, increased by $561 million to $573.13 billion, the data released by the central bank showed.

The value of the gold reserves increased by $4.141 billion to $131.63 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $26 million to $18.866 billion, the apex bank said.

India's reserve position with the IMF was also went up by $158 million to $4.873 billion in the reporting week, according to the apex bank's data.

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