India's foreign exchange (forex) reserves increased $488.2 million as on December 15, according to data released by the Reserve Bank of India on Friday. The RBI weekly statistical supplement showed that the overall Forex reserves rose to $401.4 billion from $400.9 billion reported for the week ended December 8.

Gold reserves value remained stagnant at $20.70 billion, whereas SDRs rose by $3.8 million to $1.50 billion. The country's reserve position with the IMF rose by $6.1 million to $2.27 billion.

Meanwhile, the forex reserves increased by $478.3 million to $376.90 billion during the week under review.

The Indian rupee closed little changed against US dollar on Friday. The stock markets will remain closed on Monday due to Christmas.

