Forex reserves jump USD 5.54 bn to USD 692.57 bn

Mumbai: India's forex reserves jumped USD 5.543 billion to USD 692.576 billion during the week ended November 14 due to a steep increase in the value of gold reserves, the RBI said on Friday.

The overall reserves had dropped by USD 2.699 billion to USD 687.034 billion in the previous reporting week.

For the week ended November 14, foreign currency assets, a major component of the reserves, increased by USD 152 million to USD 562.29 billion, the data released on Friday showed.

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.

Value of the gold reserves jumped by USD 5.327 billion to USD 106.857 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) grew by USD 56 million to USD 18.65 billion, the apex bank said.

India's reserve position with the IMF increased by USD 8 million to USD 4.779 billion in the reporting week, the apex bank data showed.