Mumbai, Sep 19 (PTI) India's forex reserves jumped USD 4.698 billion to USD 702.966 billion for the week ended September 12, the Reserve Bank of India said on Friday.

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

The overall reserves had jumped 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 USD 2.537 billion to USD 587.014 billion, the data released on Friday 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 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. PTI AA TRB

Foreign exchange reserves rise, driven by increases in foreign currency assets and gold, strengthening external liquidity. The Reserve Bank reported a week-on-week increase in foreign exchange reserves, led by gains in foreign currency assets and gold; Special Drawing Rights and the IMF reserve position also rose, cumulatively raising the external buffer and reflecting valuation effects of non US currencies held in reserves.