New Delhi, July 6 -- India's foreign exchange reserves (forex) witnessed an uptick of USD 4.8 billion to USD 702.78 billion for the week ending June 27, after a decline in the previous week, official data released by the Reserve Bank of India showed.

In the week ending 20 June, forex stood at USD 697.93 billion, down by USD 1.02 billion from the previous week.

In the week ending June 27, the major component of the forex reserves, the foreign currency assets, increased by USD 5.75 billion to USD 594.82 billion, the RBI data shows.

The Gold reserves, however, witnessed a dip of USD 1.23 billion, standing at USD 84.5 billion, the weekly data revealed.

Central banks worldwide increasingly accumulating safe-haven gold in their foreign exch...