India's Forex Reserves Jump $5.7 Billion To $622.47 Billion

Indias forex reserves jumped $5.736 billion to $622.469 billion for the week ended February 2, according to the latest RBI data. In the previous week, the overall reserves had increased by $591 million to $616.733 billion.

For the week ended February 2, the foreign currency assets, a major component of the reserves, increased by $5.186 billion to $55.331 billion, as per the data of RBI.

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 foreign exchange reserves.

Gold reserves increased by $608 million to $48.088 billion during the week. Special drawing rights (SDRs) were down by $58 million to $18.19 billion, the central bank said.

Indias reserve position with the IMF was unchanged at $4.86 billion in the week.

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