India’s foreign exchange reserve increased by USD 938 million to USD 682.321 billion during the week ending May 28, according to the data released by Reserve bank of India (RBI).The kitty fell USD 7.511 billion to USD 681.384 billion during the previous reporting week.Before the start of the West Asia crisis, the kitty had grown to an all-time high of USD 728.494 billion during the week ending February 27 of this year. This was followed by several weeks of declines as the rupee was under pressure and RBI had to intervene in the FX market by selling dollars.Beginning on May 11, Prime Minister Narendra Modi had also publicly urged citizens to save money by cutting back on overseas travel, using less fuel, and avoid purchasing gold for a year.According to central bank data, foreign currency assets, a significant portion of reserves, rose USD 3.116 billion to USD 546.148 billion for the week ending May 29.The impact of appreciation or depreciation of non-US units held in the foreign exchange reserves such as the euro, pound, and yen, are included in the foreign currency assets, which are expressed in dollars.RBI reported that throughout the week, the value of gold reserves decreased by USD 2.186 billion to USD 112.6 billion.The bank added that the special drawing rights (SDRs) remained at USD 18.747 billion.Furthermore, India’s reserve position with the IMF increased by USD 8 million to USD 4.826 billion at the end of the reporting week., the data shows.Earlier, in January 25, India’s foreign exchange reserves rose sharply, by USD 14.167 billion in the week that ended January 16, to USD 701.360 billion, driven by a jump in both gold reserves and foreign currency assets, RBI’s latest ‘Weekly Statistical Supplement’ data showed.The country’s foreign exchange (forex) kitty has been hovering near its all-time high of USD 704.89 billion, set in September 2024.