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India's forex kitty rose by $12.80 billion to $572.80 billion in the week ended March 17, the Reserve Bank said on Friday. In the previous reporting week, the reserves had dropped by $2.39 billion to a three-month low of $560.00 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
The reserves have been falling as the rupee has been under pressure
The same declining trend was also noted in terms of gold reserves. For the week ending on February 24, gold reserves declined by $66 million to settle at $41.751 billion.
Gold reserves decreased for the fourth week running and were down USD 66 million to USD 41.751 billion
NL Corresspondent India’s forex reserves dropped by $5.681 billion to $561.267 billion for the week ended February 17, the RBI said on Friday. This is the third consecutive week of a drop in the reserves after the $8.319 billion decrease in the previous reporting week to $566.948 billion. In October 2021, the country’s forex