Mumbai: The country’s foreign exchange reserves rose by $6.6 billion to $531.1 billion in the week through October 28, marking the biggest weekly gain since September 2021, the RBI’s weekly statistical supplement showed on Friday.
Dealers said that the increase could be for a number of reasons including the central bank receiving dollars that it bought in the forward markets earlier. Of late, the RBI’s intervention has been largely to support the rupee and ensure that it does not depreciate sharply.
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