Key facts
- India's foreign exchange reserves rose to $682.3 billion for the week ended May 29.
- Foreign currency assets increased by $3.116 billion to $546.148 billion.
- Gold reserves saw a decline during the reporting period.
- The previous week's reserves stood at $681.4 billion, a more than one-year low.
India's foreign exchange reserves experienced a notable increase of over $900 million, reaching $682.3 billion for the week ending May 29. This rise follows a previous week where reserves had dipped to a more than one-year low of $681.4 billion. The primary driver of this recent growth was an increase in foreign currency assets, which climbed by $3.116 billion to $546.148 billion. However, the data also indicated a decline in the country's gold reserves during the same period. The fluctuations in foreign exchange reserves can be indicative of the Reserve Bank of India's interventions in the currency market to manage volatility and support the rupee.