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India's foreign exchange reserves jumped $1.23 billion to $596.28 billion in the week ended July 7, the Reserve Bank of India said on Friday. In the previous reporting week, the overall forex reserves increased $1.85 billion to $595.05 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
(This story has not been edited by THE WEEK and is auto-generated from a PTI
India's foreign exchange reserves rose by $1.853 billion to $595.051 billion in the week ended on June 30, the Reserve Bank of India said on Friday. The overall reserve had dropped by $2.901 billion to $ 593.198 billion in the previous reporting week. In October 2021, the country's forex reserve had reached an all-time high of $645 billion. The reserves have been declining as
India's foreign exchange reserves saw an uptick of $1.9 billion, taking the overall level to $595.1 billion as on June 30, Reserve Bank of India data showed Friday. Foreign currency assets (FCAs) rose by $2.5 billion to $528 billion, according to the Weekly Statistical Supplement released by the RBI. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments