India's forex kitty jumped $5.929 billion to $595.067 billion for the week ended June 2, the Reserve Bank said on Friday.
The reserves had dropped for two consecutive weeks and declined by $4.34 billion to $589.14 billion in the previous reporting week.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
For the week ended June 2, the foreign currency assets, a major component of the reserves, increased by $ 5.27 billion to $526.201 billion, according to the Weekly Statistical Supplement released by the RBI on Friday.
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.
Gold reserves jumped by $655 million to $45.557 billion, the RBI said.
Foreign exchange reserves at $578.45 bn, snaps 2-week rise, shows RBI data
MPC lowers projection for inflation, raises growth outlook a bit in FY24
Govt controls under data protection bill to hit data centre investment: ITI
China's crackdown on data access adds to list of missing statistics
RBI Monetary Policy: Repo rate up by 25 bps, FY23 inflation pegged at 6.5%
IIFL Finance keen to raise more funds through bond market, says CFO
Clarification on applicability of TCS on overseas credit card spends soon
SBI to raise up to Rs 50,000 crore in FY24 by issuing debt instruments
Going to the bank with Rs 2,000 notes? Things you should keep in mind
Targeting 1 million CBDC users by end of this month: RBI deputy guv
The Special Drawing Rights (SDRs) were down by $6 million to $18.186 billion, the apex bank said.
The country's reserve position with the IMF was up $10 million to $5.123 billion in the reporting week, the central bank data showed.