The reserves data for the week reflects the impact of this maturity. "The forex reserves this week reflect the maturity of the swap, alongside the revaluation changes," said Gaura Sen Gupta, India economist at IDFC First Bank.
"Plus, the RBI's spot intervention, which it has likely been quite regular, would have been accounted for." Changes in foreign currency assets are caused by the RBI's intervention as well as the appreciation or depreciation of foreign assets held in the reserves.
Foreign exchange reserves also include India's reserve tranche position in the International Monetary Fund.
The rupee was slightly lower against the US dollar and traded in the 83.0650-83.2550 range in the week ending Oct. 27.
The currency settled at 83.2750 on Friday, largely flat for the week, after hitting a record low of 83.2950 on Wednesday.
Published 03 November 2023, 13:07 IST