Forex kitty swells by $14.7 bn, biggest rise since August 2021
Financial Express Mumbai|November 19, 2022
FOREIGN EXCHANGE RESERVES jumped by a whopping $14.7 billion for the week ended November 11, its biggest weekly increase since August 2021.
Forex kitty swells by $14.7 bn, biggest rise since August 2021

The last time forex reserves shown a jump of this magnitude was for the week ended August 27, 2021, when reserves had increased by $16.6 billion.

Reserves have reported a weekly increase six times so far in FY23. Prior to this, they had risen by $6.6 billion for the week ended October 28.

Forex reserves stood at $544.7 billion for the reporting week, according to the latest data from the Reserve Bank of India (RBI).

The increase was mainly on account of a jump of $11.8 billion in foreign currency assets and $2.6 billion in gold assets.

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