India’s forex reserves increased by $5.17 billion to $696.65 billion for the week ended June 6, the RBI said on Friday.

Illustration: Dado Ruvic/Reuters

The overall reserves had dropped by $1.24 billion to $691.49 billion for the week ended May 30.

Forex reserves had touched an all-time high of $704.89 billion in end-September 2024.

For the week ended June 6, foreign currency assets, a major component of the reserves, rose by $3.47 billion to $587.68 billion, the data released on Friday showed.

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.

The gold reserves were up by $1.58 billion to $85.88 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) also rose by $102 million to $18.67 billion, the apex bank said.

India’s reserve position with the IMF also inched up by $14 million at $4.4 billion in the reporting week, the apex bank data showed.