Forex reserves jump by $1 bn to $687 bn

India's forex reserves jumped by $1 billion to $687 billion during the week ended December 5, the RBI said on Friday.

In the previous reporting week, India's forex reserves had dropped by $1.88 billion to $686 billion.

For the week ended December 5, foreign currency assets, a major component of the reserves, decreased by $151 million to $556.88 billion, the data released showed.

Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.

Value of the gold reserves increased by $1.19 billion to $106.98 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by $93 million to $18.72 billion, the apex bank said.

India's reserve position with the IMF was down by $97 million to $4.67 billion in the reporting week, according to the apex bank's data.