Forex reserves jump $2.3 billion to fresh record of $683.99 billion

India's forex reserves jumped by $2.3 billion to a new high of $683.99 billion for the week ended on August 30, according to the RBI data release on Friday.

In the previous reporting week, the forex reserves had jumped by $7.02 billion to a high of $681.69 billion.

For the week ended August 30, foreign currency assets, a major component of the reserves, increased by $1.48 billion to $599.04 billion, the data 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 $862 million to $61.859 billion during the week.

The Special Drawing Rights (SDRs) were up by $9 million to $18.47 billion.

India's reserve position with the IMF was down by $58 million to $4.62 billion in the reporting week, the apex bank data showed.