India's foreign exchange reserves rose by $5.08 billion to reach $595.4 billion, as reported by the Reserve Bank of India (RBI). The increase follows a previous decrease of $462 million.
The surge is attributed to a $4.39 billion rise in Foreign Currency Assets (FCAs), totaling $526.39 billion. Gold reserves increased by $527 million to $46.04 billion, and Special Drawing Rights (SDRs) rose by $120 million to $18.13 billion.
The IMF's reserve position increased by $42 million to $4.83 billion. Despite reaching a historic peak of $645 billion in October 2021, reserves have been utilized to stabilize the rupee amid global pressures.