India's forex reserves rise by $2.49 billion to $719.55 billion: RBI data

India's forex reserves increased by USD 2.49 billion to USD 719.547 billion during the week ended November 6, according to the RBI data released on Friday. In the previous week, the forex reserves had dropped by USD 2.691 billion to USD 717.056 billion. The reserves had touched an all-time high of USD 785.706 billion during the week ended September 4, driven by a heavy flow of currency as part of a special concessional swap for deposits from the diaspora through which banks raised a record USD 133 billion, but had been on a decline ever since. During the week ended November 6, foreign currency assets, a major component of reserves, increased by USD 232 million to USD 591.350 billion, according to the data released by the Reserve Bank of India (RBI). Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves. The value of gold reserves increased sharply b