Mumbai: The country’s foreign exchange reserves rose by $2.5 billion during the week ended November 18. The forex reserves at the end of the week stoo
Mumbai: The country’s foreign exchange reserves rose by $2.5 billion during the week ended November 18. The forex reserves at the end of the week stood at $547.2 billion.
This is the second successive week forex reserves have risen. The increase in reserves reflects an improvement in the valuation of non-dollar investments as well as the outright purchase of dollars by the RBI.
Forex reserves touched a peak of $645 billion in October 2021. Since then, the reserves have steadily declined as the rupee came under pressure because of the Ukraine war and surge in crude oil prices.
According to data released by the RBI on Friday, foreign currency assets, which account for the bulk of the reserves, rose by $1.76 billion to $438.3 billion during the week ended November 18. Gold reserves rose by $315 million to $40.
This is the second successive week forex reserves have risen. The increase in reserves reflects an improvement in the valuation of non-dollar investments as well as the outright purchase of dollars by the RBI.
Forex reserves touched a peak of $645 billion in October 2021. Since then, the reserves have steadily declined as the rupee came under pressure because of the Ukraine war and surge in crude oil prices.
According to data released by the RBI on Friday, foreign currency assets, which account for the bulk of the reserves, rose by $1.76 billion to $438.3 billion during the week ended November 18. Gold reserves rose by $315 million to $40.
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