India's forex reserves rise for fourth week, hit over 3-month high

India's foreign exchange reserves rose for a fourth week to an over three-month high of $561.16 billion in the week through Dec. 2, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.
 

The RBI in the past has said changes in its reserves is a function of revaluation gains or losses, as well as market interventions.
 

For the week ended Nov. 25, the country's reserves were at $550.14 billion. Overall, they have declined from $632.7 billion at the beginning of this year, as the RBI has sold a portion of the reserves to ease volatility in the currency