Mumbai: India’s forex reserves rose $1.05 billion to $630.607 billion for the week ended January 31, the RBI said on Friday.
In the previous reporting week, the overall reserves had increased by $5.574 billion to $629.557 billion.
This is the second consecutive week of an increase in the reserves, which have otherwise been on a declining trend for the last few weeks due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee.
The forex reserves had increased to an all-time high of $704.885 billion in end-September 2024.
For the week ended January 31, foreign currency assets decreased by $207 million to $537.684 billion, the data released on Friday showed. Gold reserves increased by $1.242 billion to $70.893 billion during the week, the RBI said.
The Special Drawing Rights were up by $29 million to $17.889 billion. India’s reserve position with the IMF was down by $14 million at $4.141 billion in the reporting week.