India's Forex Reserves Jump $5.08 Billion To $595.40 Billion
NDTV
The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
India's forex reserves increased by USD 5.077 billion to USD 595.397 billion during the week ended November 17, the Reserve Bank said on Friday.
In the previous reporting week, the kitty declined USD 462 million to USD 590.321 billion. For the week ended November 17, the foreign currency assets, a major component of the reserves, increased USD 4.387 billion to USD 526.391 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI). It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.
The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
