India's forex reserves jump $2.56 bn to $644.15 bn

India's forex reserves jumped USD 2.561 billion to USD 644.151 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 USD 3.668 billion to USD 641.59 billion after three consecutive weeks of decline.

For the week ended April 5, the reserves had hit an all-time high of USD 648.562 billion following multiple weeks of rise.

For the week ended May 10, the foreign currency assets, a major component of the reserves, increased by USD 1.488 billion to USD 565.648 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 USD 1.072 billion to USD 55.952 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up USD 5 million to USD 18.056 billion, the apex bank said.

India's reserve position with the IMF was down USD 4 million to USD 4.495 billion in the reporting week, the apex bank data showed.

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