India's foreign exchange reserves further rose by $328 million to cross the $121 billion mark for the week ended July 16.

While the foreign exchange reserves stood at $121.11 billion, the foreign currency assets also registered a rise of $332 million at $115.74 billion, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.

Revaluation of the US dollar against other international currencies and fresh inflows led to this growth in reserves, analysts said.

Gold reserves and Special Drawing Rights were static at $4.06 billion and $2 million respectively, the central bank said.