Continuing with the rising trend for the eight consecutive week, the country's foreign exchange kitty surged $2.714 billion to $320.564 billion on a healthy increase in the core currency assets.
With this jump, the total reserves are shy of the all time high of $321 billion achieved in late 2011.
The overall reserves had $813.2 million to $317.85 billion in the previous reporting week.
Foreign currency assets (FCAs), a major constituent of the overall reserves, rose $2.73 billion to $293.78 billion for the week ended July 25, 2014, the Reserve Bank said in its weekly statement.
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves.
The gold reserves were unchanged at $20.634 billion in the reporting week.
The special drawing rights were down $13.6 million to $4.437 billion, and the country's reserve position with the IMF also dipped $5.3 million to $1.707 billion during the week, the central bank said.