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India's forex reserves rise by $ 581.1 million to record $ 393.449 billion

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India's foreign exchange reserves rose by $ 581.1 million to a new high of $ 393.449 billion during the week ended August 4, the Reserve Bank of India (RBI) said here today.
 
The country's forex reserves had gone up by $ 1.536 billion to $ 392.868 billion during the previous week.
 
In its weekly statistical supplement, the central bank said that  foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 964.4 million to $ 369.723 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves dipped by $ 405.7 million to $ 19.943 billion, while its special drawing rights (SDRs) went up by $ 8.9 million to $ 1.5045 billion.
 
India’s reserve position in the International Monetary Fund (IMF) increased by $ 13.5 million to $ 2.2774 billion during the week, the bulletin added.
 
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