At $14.7bn, forex kitty posts biggest weekly jump in a yr

The country’s foreign exchange reserves rose by $14.7 billion during the week ended November 11, 2022 to hit $544.7 billion — the highest level since September 2021.

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Mumbai: The country’s foreign exchange reserves rose by $14.7 billion during the week ended November 11, 2022 to hit $544.7 billion — the highest level since September 2021.

After falling to $530 billion in the week ended November 4, a drop of over $100 billion from the beginning of the year, reserves rose to $544 billion in seven days. Data released by the RBI showed that this was the fastest pace of growth since August 2021.