Forex kitty grows for 2nd consecutive week; rises $2.54 bn to $547.25 bn | Business News,The Indian Express

In the previous reporting week, the overall kitty had swelled by USD 14.721 billion in the highest weekly rise since August 2021 to USD 544.715 billion.

In the previous reporting week, the overall kitty had swelled by USD 14.721 billion in the highest weekly rise since August 2021 to USD 544.715 billion.

It can be noted that in October 2021, the country’s forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused by global developments.

Foreign currency assets (FCA), a major component of the overall reserves, increased by USD 1.76 billion to USD 484.288 billion during the week to November 18, according to the Weekly Statistical Supplement released by the RBI on Friday.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

The gold reserves increased by USD 315 million to USD 40.011 billion, it said.

https://indianexpress.com/article/business/forex-kitty-grows-consecutive-week-rises-8289956/


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