India's Forex Reserves Jump $3 Billion To $696.6 Billion

India's forex reserves jumped by $3.293 billion to $696.61 billion in the week to December 26, the RBI said on Friday. The overall kitty had increased by $4.368 billion to $693.318 billion in the previous reporting week.

For the week ended December 26, foreign currency assets, a major component of the reserves, increased by $184 million to $559.612 billion, the data released by the central bank 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 jumped by $2.956 billion to $113.32 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $60 million to $18.803 billion, the apex bank said.

India's reserve position with the IMF was up by $93 million to $4.875 billion in the reporting week, according to the apex bank's data.