Foreign exchange reserves surged by $5.543 billion to reach $692.576 billion for the week ending November 14, driven primarily by a significant rise in gold reserves, according to the Reserve Bank of India (RBI) announced on Friday. In the preceding week, reserves had declined by $2.699 billion to $687.034 billion.
For the week that concluded on November 14, foreign currency assets—a key component of the total reserves—increased by $152 million, bringing the total to $562.29 billion. This figure is influenced by fluctuations in the value of non-US currencies such as the euro, pound, and yen, as expressed in dollar terms.
The value of gold reserves saw a notable increase of $5.327 billion, rising to $106.857 billion during the same period, the RBI reported. Additionally, Special Drawing Rights (SDRs) grew by $56 million to $18.65 billion, while India’s reserve position with the International Monetary Fund (IMF) rose by $8 million, reaching $4.779 billion for the week.
These figures reflect the RBI’s ongoing management of the country’s foreign exchange reserves and provide insight into the factors influencing currency valuations globally.
