Forex reserves jump by USD 1 billion to USD 687.26 billion

Mumbai: India's forex reserves jumped by USD 1.033 billion to USD 687.26 billion during the week ended December 5, the RBI said on Friday.

In the previous reporting week, India's forex reserves had dropped by USD 1.877 billion to USD 686.227 billion.

For the week ended December 5, foreign currency assets, a major component of the reserves, decreased by USD 151 million to USD 556.88 billion, the data released showed.

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

Value of the gold reserves increased by USD 1.188 billion to USD 106.984 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 93 million to USD 18.721 billion, the apex bank said.

India's reserve position with the IMF was down by USD 97 million to USD 4.675 billion in the reporting week, according to the apex bank's data.