India’s forex jumps to $316.8b

India’s foreign exchange reserves (forex) jumped by $2.29 billion to $316.80 billion for the week ended on July 22, against $314.50 billion in the previous week, on the back of a sharp increase in foreign currency assets, official data showed on Saturday. The forex reserves have risen after declining in the previous two weeks. After declined sharply during the previous two weeks, foreign currency assets, the biggest component of the forex reserves kitty, rose by $2.22 billion to $284.52 billion during the week ended July 22, according to the weekly statistical supplement of the Reserve Bank of India (RBI). From/ Gulf Today