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Rising for the second consecutive week, India’s forex kitty jumped $3.553 billion to $599.529 billion for the week ended May 12, the RBI said on Friday. The overall reserves had jumped by $7.196 billion to $595.976 billion for the previous reporting week. It can be noted that in October 2021,
The overall reserves had jumped by USD 7.196 billion to USD 595.976 billion for the previous reporting week.
The overall reserves had jumped by $7.2 billion to $595.98 billion for the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
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 reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments.