Forex reserves jump $5.16 bn to $657.16 bn

India's forex reserves jumped $5.16 billion to $657.16 billion during the week ended July 5, the Reserve Bank of India (RBI) said on Friday.

The forex kitty had declined for the previous two consecutive weeks, dropping $1.71 billion to $652 billion for the week ended June 28.

The reserves had touched an all-time high of $655.82 billion as on June 7 this year.

For the week ended July 5, foreign currency assets, a major component of the reserves, increased $4.23 billion to $577.11 billion, as per the the data released on Friday.

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 $904 million to $57.43 billion during the week, the RBI said.

The Special Drawing Rights were up $21 million to $18.04 billion, the apex bank said.

India's reserve position with the IMF was up $4 million to $4.59 billion in the reporting week, the apex bank data showed.