Forex watch: India’s reserves jump $5.54 bn; gold vaults total kitty to $692.57 bn – The Times of India

India’s foreign exchange reserves rose sharply by $5.543 billion to $692.576 billion for the week ended November 14, driven largely by a surge in the valuation of gold holdings, according to data released by the Reserve Bank of India (RBI) on Friday.The rise follows a $2.699 billion decline in the previous reporting week, when total reserves stood at $687.034 billion, PTI reported.Foreign currency assets — the largest component of total reserves — increased by $152 million to $562.29 billion during the week, the RBI data showed. These assets are reported in dollar terms and reflect movements in currencies such as the euro, pound and yen held in the reserves.The value of the gold reserves jumped by $5.327 billion, taking the total to $106.857 billion. The RBI also reported that Special Drawing Rights (SDRs) rose by $56 million to $18.65 billion.India’s reserve position with the International Monetary Fund increased by $8 million to $4.779 billion during the week, the data showed.