Mumbai, Aug 22 (PTI) India's forex reserves rose by USD 1.488 billion to USD 695.106 billion during the week ended August 15, according to RBI data released on Friday.

In the previous reporting week, the overall reserves had increased by USD 4.747 billion to USD 693.618 billion.

For the week ended August 15, foreign currency assets, a major component of the reserves, climbed by USD 1.924 billion to USD 585.903 billion, the data 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.

The gold reserves decreased by USD 493 million to USD 85.667 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 41 million to USD 18.782 billion, the apex bank said.

India's reserve position with the IMF was higher by USD 15 million at USD 4.754 billion in the reporting week, the RBI data showed. PTI NKD NKD SHW

Foreign exchange reserves rise after gains in foreign currency assets despite decline in gold holdings RBI weekly reserve report records a net increase in foreign exchange reserves for the reporting week ended August 15, driven by a rise in foreign currency assets while gold reserves declined; SDRs and the IMF reserve position showed modest increases, and foreign currency asset figures reflect valuation effects from non US currency movements.