In the previous reporting week, the overall reserves had risen by $2.975 billion to $619.072 billion.
Credit: PTI File Photo
Mumbai: India's forex reserves jumped $6.55 billion to $625.626 billion for the week ended March 1, the Reserve Bank of India said on Friday.
In the previous reporting week, the overall reserves had risen by $2.975 billion to $619.072 billion.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
For the week ended March 1, the foreign currency assets, a major component of the reserves, increased by $6.043 billion to $554.231 billion, the data said.
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 increased by $569 million to $48.417 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $17 million to $18.18 billion, the apex bank said.
India's reserve position with the IMF was also down by $41 million to USD 4.798 billion in the reporting week, the apex bank data showed.