The country's forex reserves increased by $305 million to $654.27 billion during the week ended March 14, the RBI said on Friday.
In the previous reporting week, the overall reserves rose by $15.27 billion to $653.97 billion and registered the sharpest weekly rise in two years.
The spike in foreign reserves was partly attributed to the $10 billion forex swap done by the Reserve Bank of India.
The reserves have been on a declining trend recently due to revaluation, along with forex market interventions by the RBI to help reduce volatilities in the rupee.
The forex reserves increased to an all-time high of $704.88 billion in September 2024.
For the week ended March 14, foreign currency assets, a major component of the reserves, decreased by $96 million to $557.186 billion, the data released on Friday 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.
Gold reserves increased by $66 million to $74.39 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up by $51 million to $18.26 billion, the apex bank added.
India's reserve position with the IMF was also up by $283 million at $4.43 billion in the reporting week, the apex bank data showed.
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