Forex reserves jump $2.56 bn to $644.15 bn

India's forex reserves jumped $2.56 billion to $644.15 billion for the week ended May 10, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the kitty had increased $3.67 billion to $641.59 billion after three consecutive weeks of decline.

For the week ended April 5, the reserves had hit an all-time high of $648.56 billion following multiple weeks of rise.

For the week ended May 10, the foreign currency assets, a major component of the reserves, increased by $1.49 billion to $565.65 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 $1.07 billion to $55.95 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up $5 million to $18.06 billion, the apex bank said.

India's reserve position with the IMF was down $4 million to $4.49 billion in the reporting week, the apex bank data showed.