According to the data released by Reserve Bank of India (RBI), the foreign exchange reserves rose to USD 531.08 billion in the week, augmented by increase in foreign currency assets and gold reserves
India’s forex reserves recently posted its biggest weekly increase since September last year as it rose by USD 6.56 billion in the week ending October 28, 2022, reported businessworld.in.
According to the data released by Reserve Bank of India (RBI), the foreign exchange reserves rose to USD 531.08 billion in the week, augmented by increase in foreign currency assets and gold reserves.
The Reserve Bank of India noted that spot forex reserves had dipped from USD 607 billion in end-March and decreased by USD 111.37 billion from the record high of USD 642.45 billion seen on September 3, 2021
During the week ending October 28, the country’s foreign currency assets (FCA), a critical component of the forex reserves, rose by USD 5.772 billion to USD 470.847 billion. The Reserve Bank of India noted that spot forex reserves had dipped from USD 607 billion in end-March and decreased by USD 111.37 billion from the record high of USD 642.45 billion seen on September 3, 2021.
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