Home / Finance / Analysis / India's foreign exchange reserves jump $6.5 billion to $531 billion

India's foreign exchange reserves jump $6.5 billion to $531 billion

The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week

Forex reserves falling below $400 billion not a worry, say experts

Premium

1 min read Last Updated : Nov 05 2022 | 12:46 AM IST

India’s foreign exchange reserves increased $6.5 billion for the week ended October 28 to $531 billion, latest data released by the Reserve Bank of India (RBI) showed. The rupee appreciated 0.25 per cent against the dollar during that week.

The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week.

Following RBI’s aggressive intervention in the foreign exchange market as the rupee came under pressure since the war in Europe, the reserves fell by around $75 billion in the current financial year.

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in