India’s forex reserves jump $6.55 billion to $625.63 billion

India’s forex reserves surged $6.55 billion to $625.626 billion during the week ended March 1, according to the latest RBI data.

For the week ended March 1, the foreign currency assets, a major component of the reserves, increased by $6.043 billion to $554.231 billion, the data said.

Gold reserves increased by $569 million to $48.417 billion during the week. The special drawing rights (SDRs) were down by $17 million to $18.18 billion, according to the data.

India’s reserve position with the IMF was also down by $41 million to $4.798 billion in the reporting week, the apex bank data showed.