The reserves jumped nearly $10 billion week-on-week, led by a $7.2 billion gain in the central ​bank's foreign currency assets, while the value of gold holdings rose ​by $2.7 billion.

The central bank's FX pile has been rising over ⁠the last seven weeks, which have witnessed an accretion of about $50 billion. ​The reserves are now within striking distance of a record high of $728.5 billion ​hit in February.

Measures to draw dollar inflows announced in June included discounted hedging facilities for overseas borrowings by state-run firms and banks and a free-of-cost hedging facility for banks ​to raise overseas FX deposits.

The central bank absorbs the inflows into ​its FX reserves via the discounted FX swaps.

Last Friday, the RBI announced it received ‌nearly $57 ⁠billion worth of inflows under the measures by August 13, led by over $50 billion in FX deposits. The scale of inflows prompted the central bank to advance the closure of its deposit hedging facility by a month to ​August 31.

Changes in ​foreign currency ⁠assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in reserves.

The central ​bank's frequent interventions in the foreign exchange market to ​defend the ⁠rupee have likely offset the impact of some of the overseas dollar inflows, bankers said.

Foreign exchange reserves include India's Reserve Tranche position in the International Monetary ⁠Fund.