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Increase in the country’s gold reserves by USD 3.53 billion to USD 90.299 billion during the week ending September 5 led to a rise in India’s forex reserves, which jumped USD 4.038 billion to USD 698.268 billion, data by the Reserve Bank of India (RBI) released on Friday showed.

In the previous reporting week, the overall reserves had jumped by USD 3.51 billion to USD 694.23 billion.

For the week ended September 5, foreign currency assets, a major component of the reserves, increased by USD 540 million to USD 584.477 billion, the data showed.

 

Also Read: Forex reserves continue to rise for another week

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.

The Special Drawing Rights (SDRs) were down by USD 34 million to USD 18.742 billion, the apex bank said.

India's reserve position with the IMF was up by USD 2 million at USD 4.751 billion in the reporting week, the Reserve Bank data showed.