Home / Markets / Stock Markets /  India's forex exchange reserves rise at fastest pace since August 2021
Back

India's foreign exchange reserves rose to $544.72 billion in the week through November 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India's (RBI) weekly statistical supplement showed on Friday.

The country's reserves were at $529.99 billion by November 4. They are still down from around $630 billion at the beginning of this year as the RBI sold a portion of the reserves to prevent a sharp fall in the rupee this year.

In the week ended Nov. 11, softer-than-expected U.S. inflation data helped the rupee mark its best weekly performance in about four years and strengthened it to the 80-per-dollar handle for the first time since mid-September.

For the current week, the local currency gave back some of those gains to end down 1.1% at 81.6850 per dollar.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout