forex reserves surge

Mumbai, Aug 7 (IANS) India's foreign exchange reserves surged by $10.512 billion to $692.866 billion for the week ended July 31, extending their upward trend, according to data released by the Reserve Bank of India (RBI) on Friday. The latest surge follows a forex gain of $6.118 billion for the week ended July 24. The value of gold reserves increased by $1.685 billion to $104.743 billion during the week ended July 31, the RBI said. For the same period, foreign currency assets, a major component of the reserves, increased by $8.750 billion to $564.680 billion. Expressed in dollar terms, the…