India's forex reserves increased $591 million to $616.733 billion for the week ended Jan. 26, the Reserve Bank of India said on Friday.
In the previous reporting week, the overall reserves had dropped $2.795 billion to $616.143 billion.
The country's forex kitty had reached an all-time high of $645 billion in October 2021. 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.
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For the week ended Jan. 26, the foreign currency assets, a major component of the reserves, increased $289 million to $546.144 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 $269 million to $47.481 billion during the week, the RBI said.
The Special Drawing Rights were up $27 million to $18.248 billion, the apex bank said.
India's reserve position with the IMF was up $6 million to $4.86 billion in the reporting week, the RBI's data showed.
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