Forex reserves zoom to $172.78bn

Foreign exchange reserves zoomed from a meagre $2.427 billion to $172.782 billion for the week ended November 24, according to the weekly statistical supplement released by the Reserve Bank of India today.

Foreign currency assets moved up $2.424 billion to $166.061 billion. Gold reserves and SDRs were unchanged at $6.068 billion and $1 million, respectively.

The Reserve Tranche Position with the IMF increased $3 million to $652 million.