India's forex reserves rise by $ 2.537 billion to $ 547.252 billion

Mumbai, November 25, 2022

Maintaining an upward trend for the second consecutive week, India's foreign exchange reserves rose by $ 2.537 billion to $ 547.252 billion in the week ended November 18, the Reserve Bank of India (RBI) said today.

The country's forex reserves had soared by $ 14.721 billion to $ 544.715 billion in the previous week.

In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had gone up by $ 1.760 billion to $ 484.288 billion during the week.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

According to the bulletin, the country’s gold reserves rose by $ 315 billion to $ 40.011 billion while its special drawing rights (SDRs) increased by $ 351 million to $17.906 billion during the week.

India's reserve position in the International Monetary Fund (IMF) went up by $ 111 million to $ 5.047 billion, the bulletin added.

NNN