India’s foreign exchange reserves jumped by $7.26 billion to $674.19 billion in the week ended July 3, reversing the previous week’s decline. Gold reserves rose sharply, SDR holdings increased, and banks are seeing stronger inflows under the revised FCNR-B deposit scheme.
The forex reserves rose $1.05 billion to reach $630.607 billion for the week ended January 31, according to the Reserve Bank of India (RBI) data. Meanwhile, gold reserves went up by $1.242 billion to $70.893 billion during the week
The reserves, which have been steadily increasing over the last few months, had touched an all-time high at $590.185 billion for the week ended January 29 this year
