Mumbai: The country’s foreign exchange reserves jumped $1.2 billion to $596 billion in the week ended July 7, the RBI said on Friday. In the previous
Mumbai: The country’s foreign exchange reserves jumped $1.2 billion to $596 billion in the week ended July 7, the RBI said on Friday. In the previous reporting week, the foreign exchange reserves increased $1.9 billion to $595 billion.
In October 2021, the country’s forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments. For the week ended July 7, foreign currency assets, a major component of the reserves, increased $989 million to $529 billion, according to the weekly statistical supplement released by the RBI. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. agencies
In October 2021, the country’s forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments. For the week ended July 7, foreign currency assets, a major component of the reserves, increased $989 million to $529 billion, according to the weekly statistical supplement released by the RBI. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. agencies
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