Forex kitty jumps in one of biggest weekly expansions
India, Aug. 15 -- India's forex reserves jumped USD 14.136 billion to USD 707.002 billion during the week ended August 7, the Reserve Bank said on Friday.
The overall kitty had jumped by USD 10.512 billion to USD 692.866 billion in the previous reporting week ended July 31.
The reserves had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the onset of the Middle East conflict that led to several weeks of drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales.
For the week ended August 7, foreign currency assets, a major component of the reserves, increased USD 9.946 billion to USD 574.625 billion, the central bank's data showed.
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