Forex reserves rise to two-month high of $640.48 billion, shows RBI data

India's foreign exchange reserves rose to a two-month high of $640.48 billion as of February 21, data released by the central bank on Friday showed. 

The reserves rose by $4.76 billion in the reported week. 

They had fallen by $2.54 billion in the prior week, the most in a month. 

Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves. 

The rupee, like its Asian peers, has been volatile amid uncertainty surrounding U.S. trade tariffs but periodic intervention by the central bank has helped cap large-scale losses in the domestic unit. 

In the week to which the reserves data pertains, the rupee advanced 0.1% week-on-week, broadly benefiting from a weaker dollar.

The domestic unit ended at 87.4950 per dollar on Friday. It fell 1% in February, and had slipped to an all-time low of 87.95 during the month. 

Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund.