Forex reserves increase $392 million to $687.19 billion

In the previous reporting week, the overall kitty had dropped by USD 9.809 billion to USD 686.80 billion.

India's forex reserves increased by USD 392 million to USD 687.19 billion during the week ended January 9, the Reserve Bank of India said on Friday.

In the previous reporting week, the overall kitty had dropped by USD 9.809 billion to USD 686.80 billion.

For the week ended January 9, foreign currency assets, a major component of reserves, decreased by USD 1.124 billion to USD 550.866 billion, the central bank's data showed.

Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.

Value of the gold reserves jumped by USD 1.568 billion to USD 112.83 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 39 million to USD 18.739 billion, the apex bank said.

India's reserve position with the IMF was down by USD 13 million to USD 4.758 billion in the reporting week, according to the apex bank's data.