Indian currency reserves increase by $2.31 billion after four consecutive weekly declines.

Forex reserves increased by $2.315 billion to $573.875 billion for the week ended July 29 . In the previous four weeks, the forex reserves had decreased by around $17 billion .

The Reserve Bank of India (RBI) data showed that India's foreign exchange (forex) reserves increased by $2.315 billion to $573.875 billion for the week ended July 29, reflecting strong capital inflows in the equities markets and the strengthening of rupees from a record low.For the first time in the last five weeks under scrutiny, the country's forex reserves have increased.In the previous four weeks, the forex reserves had decreased by around $17 billion.India's foreign currency assets, which are the largest component of the forex reserves, increased by $1.121 billion to $511.257 billion for the week ended July 22.

Gold reserves increased sharply.According to RBI's Weekly Statistical Supplement, Indias reserve position in the International Monetary Fund (IMF increased by $31 million to $4.991 billion during the week ended July 29.The value of Indias Special Drawing Rights (SDRs) with the International Monetary Fund increased by $22 million to $17.985 billion during the week under review.