India's forex reserves grew $2.91 bn to $564.06 bn as of Dec 9
This is the fifth consecutive week of an increase in the reserves.
PremiumIndia's forex reserves grew by $2.908 billion to $564.06 billion for the week ended on December 9, according to the Reserve Bank data released on Friday. This is the fifth consecutive week of increase in the forex reserves of the country.
In the previous reporting week, the foreign exchange reserves had grown by $11 billion to $571.16 billion.
The foreign currency assets (FCA), which is a major component of the overall reserves, increased by $3.141 billion to $500.125 billion during the week to December 9, according to the Weekly Statistical Supplement released by the RBI.
Foreign currency assets rose by $9.694 billion to $496.984 billion for the previous reporting week according to the Weekly Statistical Supplement released by the RBI.
The foreign currency assets (FCA) is expressed in dollar terms, include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves decreased by $296 million to $40.729 billion.
The Special Drawing Rights (SDRs) jumped by USD 61 million to USD 18.106 billion, the apex bank said.
India's foreign reserve exchange had reached all-time high of $645 billion, in October 2021.
The reserves had been declining as the central bank deployed the reserved to defend the rupee amid pressures caused majorly by global developments.
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This story has been published from a wire agency feed without modifications to the text.
