India’s forex reserves rises $3.5 billion: RBI reports higher gold holdings; IMF reserve position also improves

India’s foreign exchange reserves saw a rise of $3.51 billion, reaching $694.23 billion in the week ending August 29, according to the RBI. This increase was driven by a growth in foreign currency assets and gold reserves. The Special Drawing Rights and India’s reserve position with the IMF also experienced positive movement during this period.