India's foreign exchange reserves increase by $10.5 billion

India's foreign exchange reserves increased by $10.512 billion during the week ending July 31, bringing the total to $692.866 billion. The Reserve Bank of India reported that foreign currency assets, which constitute the largest component of the reserves, rose by $8.75 billion to $564.68 billion. Additionally, the value of gold reserves grew by $1.69 billion to $104.74 billion, while Special Drawing Rights with the International Monetary Fund increased by $48 million to $18.67 billion.

This growth follows a $6.118 billion increase in the previous reporting week. The reserves had previously reached an all-time high of $728.494 billion in February before experiencing a decline due to market interventions by the central bank to support the rupee amid regional conflicts in West Asia. The current figures represent the highest level for the reserves in over two months.