India's forex reserves jump by $4.55 bn to $674.66 bn

India's forex reserves jumped by $4.55 billion to $674.66 billion during the week ended August 16, the RBI said on Friday.

In the previous week, the forex kitty had dropped by $4.8 billion to $670.12 billion.

On August 2, the overall reserves hit an all-time high of $674.92 billion.

In the week ended August 16, foreign currency assets, a major component of the reserves, increased by $3.61 billion to $591.57 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.

Gold reserves increased by $865 million to $60.10 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $60 million to $18.341 billion. India's reserve position with the IMF was up by $12 million to $4.65 billion during the week.