Indian foreign exchange reserves rose $2.5 billion to $719 billion in the week ended November 6. This growth happened largely because gold prices went up, adding $2.2 billion to the total. While foreign currency assets also grew, this jump helped the country recover after reserves fell by $2.6 billion last week.

Synopsis

Indian foreign exchange reserves rose $2.5 billion to $719 billion in the week ended November 6, largely due to revaluation in gold prices. Gold reserves increased $2.2 billion to $104.7 billion, while foreign currency assets increased modestly by $232 million to $591 billion. Last week, reserves had decreased by $2.6 billion.

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