India's forex reserves rise by $11.9 billion to over $534 billion in July 31 week

With a rise of over $11.9 billion, India's foreign exchange reserves have swelled to over $534.5 billion in the week ending July 31, latest data released by the Reserve bank of India (RBI) indicated. The country's kitty had over $522 billion worth of forex in the week-ended July 24.

The reserves had crossed the half-a-trillion dollar mark for the first time in the week-ended June 5, after it had risen by $8.22 billion to $501.70 billion.

Foreign currency assets (FCA), a major component of the overall reserves, have increased by $10.34 billion to $490.8 billion. 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.

Gold reserves rose $1.5 billion to $37.6 billion in the reporting week. The special drawing rights with the International Monetary Fund (IMF) rose to $1.47 billion and the country's reserve position with the IMF also increased to $4.6 billion.