India's Forex Reserves Jump to $657.16 Billion - RBI

Mumbai, Jul 12 (PTI) India's forex reserves jumped USD 5.158 billion to USD 657.155 billion during the week ended July 5, the Reserve Bank of India (RBI) said on Friday.

The forex kitty had declined for the previous two consecutive weeks, dropping USD 1.713 billion to USD 651.997 billion for the week ended June 28.

The reserves had touched an all-time high of USD 655.817 billion as on June 7 this year.

For the week ended July 5, foreign currency assets, a major component of the reserves, increased USD 4.228 billion to USD 577.11 billion, as per the the data released on Friday.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased USD 904 million to USD 57.432 billion during the week, the RBI said.

The Special Drawing Rights were up USD 21 million to USD 18.036 billion, the apex bank said.

India's reserve position with the IMF was up USD 4 million to USD 4.578 billion in the reporting week, the apex bank data showed.