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During the week ended on May 5, the foreign currency assets, a major component of the reserves, increased by nearly $6.536 billion to $526.021 billion, according to the latest Weekly Statistical Supplement released by the RBI.
India's foreign exchange reserves jumped by $7.196 billion to $595.976 billion in the week ended on May 5, the Reserve Bank of India said on Friday.
The overall reserves had dropped by $4.53 billion to $588.78 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 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 $6.536 billion to $526.021 billion, according to the latest Weekly Statistical Supplement released by the RBI.
NL Corresspondent India’s foreign exchange reserves jumped $4.53 billion to $588.78 billion for the week ended April 28, the Reserve Bank of India said. The overall reserves had dropped $2.16 billion to $584.25 billion in the previous reporting week. In October 2021, the country’s forex reserves had touched an all-time high of $645 billion.