India's forex reserves rise to $676.237 billion

India's forex reserves jumped by USD 1.08 billion to USD 676.237 billion during the week ended July 17, according to the RBI data.

Foreign currency assets, a major component of the reserves, increased by USD 4.549 billion to USD 551.057 billion.

Value of gold reserves dropped by USD 3.48 billion to USD 101.749 billion during the week. The Special Drawing Rights (SDRs) were up by USD 44 million at USD 18.67 billion.

India's reserve position with the IMF was down by USD 32 million to USD 4.761 billion at the end of the reporting week, according to the apex bank's data.

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