India's forex kitty rises by $139 mn to $642.63 billion: RBI data

Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund

Reuters BENGALURU

1 min read Last Updated : Mar 30 2024 | 12:17 AM IST

India's foreign exchange reserves rose for a fifth straight week to hit a record high of $642.63 billion as of March 22, data from the central bank showed on Friday.

The reserves jumped by $139 million in the reporting week.

Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves.

Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund.

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The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee.

The domestic currency settled at 83.40 against the dollar on Thursday. India's financial markets were closed on Friday for a holiday.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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