India’s forex reserves up by $1.31b

India’s foreign exchange (forex) reserves grew by $1.31 billion to $288.64 billion for the week ended July 27, 2012, Reserve Bank of India data showed. The forex had earlier risen by $589 million to $287.34 billion for the week ended July 20, 2012. The country’s forex reserves had declined by $872.7 million in the week ended July 13, 2012. Foreign currency assets, the biggest component of the forex reserves kitty, increased by $1.29 billion to $256.39 billion for the week under review, according to weekly statistical supplement released by the RBI. The foreign currency assets had risen by $565.5 million to $255.10b for the week ended June 20. From gulftoday