Forex monitor: India’s reserves rise by $1 bn; gold holdings jump sharply as overall kitty hits $687.26 bn

India’s international change reserves rose by USD 1.033 billion to USD 687.26 billion within the week ended December 5, the Reserve Bank of India (RBI) mentioned on Friday. This comes after the earlier reporting week noticed a decline of USD 1.877 billion, PTI reported. According to the RBI’s weekly statistical information, international forex belongings — the biggest part of the reserves — fell by USD 151 million to USD 556.88 billion. Expressed in greenback phrases, these belongings replicate the impression of actions in non-US currencies such as the euro, pound and yen. Gold reserves elevated by USD 1.188 billion to USD 106.984 billion throughout the week, the info confirmed. The Special Drawing Rights (SDRs) rose by USD 93 million to USD 18.721 billion, whereas India’s reserve place with the IMF declined by USD 97 million to USD 4.675 billion.