Forex reserves jump by $7.533 bn to record $674.91 bn

Mumbai: India's forex reserves jumped by $7.533 billion to a new record high of $674.919 billion for the week ended August 2, the Reserve Bank said on Friday.

The overall kitty had dropped by $3.471 billion to $667.386 billion in the previous reporting week ended July 26. The previous high for the reserves had stood at $670.857 billion, reached on July 18.

For the week ended August 2, foreign currency assets, a major component of the reserves, increased by $5.162 billion to $592.039 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 by $2.404 billion to $60.099 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $41 million to $18.161 billion, the apex bank said.

India's reserve position with the IMF was up by $8 million to $4.62 billion in the reporting week, the apex bank data showed.