Reserve Bank of India announced that the country's foreign exchange reserves increased by $1.919 billion to $642.019 billion for the week ending October 29 due to an increase in currency assets and the value of gold.
At the end of the previous reporting week, total reserves had decreased by $908 million to $640.1 billion. According to the RBI's weekly data, foreign currency assets, which make up a large part of overall reserves, increased by 1.363 billion to $578.462 billion for the reporting week.
The effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets when expressed in dollar terms. According to RBI data, the value of gold reserves increased by $572 million to $39.012 billion in the reporting week.
The International Monetary Fund's (IMF) special drawing rights (SDRs) increased by $17 million to $19.304 billion. According to the central bank, the country's reserve position with the IMF increased by $1 million to $5.242 billion in the reporting week.