Informist New Delhi

India's foreign exchange reserves rose by $8.31 billion to a six-month high of $686.15 billion in the week ended Apr. 18, possibly due to a rise in the Reserve Bank of India's gold reserves and revaluation gains, data released Friday by the central bank showed.

The share of gold in the RBI's reserves rose by $4.58 billion to $84.57 billion in the reporting week. Geopolitical tensions and the continuing trade war between the US and China have boosted gold's safe-haven demand, pushing its price to an all-time high in recent times. 

The dollar index, which measures the strength of the dollar against a basket of six major currencies, declined 0.4% in the week ended Apr. 18. Calculated in dollar terms, the foreign currency reserves also reflect the impact of appreciation or depreciation of non-US units like the euro, the pound sterling, and the yen held in the reserves.