India's Forex Reserves Jump By USD 7.2 Billion To USD 595.98 Billion
NDTV
In October 2021, India's forex reserve had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments.
India's foreign exchange reserves jumped by USD 7.196 billion to USD 595.976 billion in the week ended on May 5, the Reserve Bank of India said on Friday.
The overall reserves had dropped by USD 4.532 billion to USD 588.78 billion in the previous reporting week.
In October 2021, the country's forex reserve had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments.
During the week ended on May 5, the foreign currency assets, a major component of the reserves, increased by nearly USD 6.536 billion to USD 526.021 billion, according to the latest Weekly Statistical Supplement released by the RBI.
