Due to a sharp rise in the value of gold reserves, India’s foreign exchange reserves increased $5.543 billion to $692.576 billion during the week ending November 14, the RBI reported on Friday. In the previous reporting week, the total reserves had decreased by $2.699 billion to $687.034 billion.
According to figures issued on Friday, foreign currency assets a significant portion of reserves—rose by $152 million to $562.29 billion for the week ending November 14. The effect of appreciation or depreciation of non-US currency held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets, which are expressed in dollars.
The RBI reported that throughout the week, the value of the gold reserves increased by $5.327 billion to $106.857 billion. According to the top bank, the Special Drawing Rights (SDRs) increased by $56 million to $18.65 billion.
According to the apex bank data, India’s reserve position with the IMF rose by $8 million to $4.779 billion during the reporting week.
