India’s forex reserves jump $4.698 bn to $702.966 bn

Mumbai: India’s forex reserves jumped $4.698 billion to $702.966 billion for the week ended September 12, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had increased $4.038 billion to $698.268 billion. The overall reserves had jumped $3.51 billion to $694.23 billion. For the week ended September 5, foreign currency assets, a major component of the reserves, increased $2.537 billion to $587.014 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.