The country's foreign exchange reserves jumped by a massive $7.779 billion to touch a lifetime high of $568.494 billion in the week ended November 6, RBI data showed on Friday.
In the previous week ended October 30, the reserves had increased by $183 million to $560.715 billion.
In the reporting week, the jump in reserves was mainly on account of an increase in foreign current assets (FCAs), a major component of the overall reserves.
FCAs increased by $6.403 billion to $524.742 billion, the central bank's weekly data 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.
After declining in the previous week, the gold reserves rose by $1.328 billion to $37.587 billion in the week ended November 6, as per the Reserve Bank of India (RBI) data.
The special drawing rights with the International Monetary Fund (IMF) rose by $7 million to $1.488 billion during the week.
The country's reserve position with the IMF also increased by $40 million to $4.676 billion.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.