Forex reserves increased by $1.379 billion to $286.723 billion for the week ended November 27, according to the Reserve Bank of India's Weekly Statistical Supplement.
In the earlier week, reserves decreased by $1.032 billion to $185.344 billion.
In the week under review, foreign currency assets increased by $571 million to $262.449 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies.
Gold reserves remained unchanged at $17.5 billion.
SDRs increased by $44 million to touch $5.310 billion. The reserve position in the IMF increased by $764 million to $1.464 billion.
According to a dealer with a public sector bank, it is difficult to attribute any particular reason to the rise in reserves as foreign currencies were in a range in the week concerned and it is not clear if the RBI paid for the gold purchased from IMF using dollars or by converting rupee into dollars.
Source : Business Line