India's Forex Reserves Jump By $3.66 Billion To $641 Billion

After falling for three consecutive weeks, Indias forex reserves jumped $3.668 billion to $641.59 billion for the week ended May 3, according to the latest RBI data. For the week ended April 5, the reserves had hit an all-time high of USD 648.562 billion, following multiple weeks of increases. The foreign currency assets, a major component of the reserves, increased by $4.459 billion to $564.161 billion. Gold reserves decreased $653 million to $54.88 billion during week ended May 3. The special drawing rights (SDRs) were up $2 million to $18.051 billion, according to the latest RBI data.

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