India's foreign exchange (forex) reserves jumped $282 million during the week through the end of August, according to the latest data from the Reserve Bank of India (RBI).

The newly released stats showed that India's foreign exchange reserves jumped from $290.18 billion in the week ended August 24 to $290.46 billion in the week to August 31.

The foreign exchange reserves comprise foreign currency assets, Special Drawing Rights (SDRs), gold reserves as well as reserve tranche position in the International Monetary Fund.

In addition, foreign currency assets include the effect of appreciation/depreciation of the non-US currencies like the pound, euro and yen.

The jump in forex reserves was mainly due to the $524.7 million jump in the value of gold reserves during the week. The value of gold reserve is being attributed to the recent increase in prices of gold in the international markets.

During the concerned week, the SDRs jumped $16.2 million to settle at $4.393 billion, but the country's reserve position with the International Monetary Fund slipped $22 million to $2.209 billion.

The reserves were still down $30.32 billion or 10 per cent from the corresponding period of previous year. In the first five-month period of the current financial year, the country' reserves have slipped by $3.95 billion, driven by a decline in foreign current assets.