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India's forex reserves jumped USD 4.698 billion in the week ending on September 12 to reach a high of USD 702.966 billion, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the overall reserves had increased USD 4.038 billion to USD 698.268 billion.

For the week that ended on September 5, foreign currency assets, which are a major component of a country’s reserves, increased USD 2.537 billion to USD 587.014 billion, the central bank data released on Friday showed.

 

Also Read: Higher gold reserves lead to jump in India's forex reserves

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 gold reserves increased USD 2.12 billion to USD 92.419 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 32 million to USD 18.773 billion, the apex bank said.

India's reserve position with the IMF was up by USD 9 million at USD 4.76 billion in the reporting week, the apex bank data showed.