Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn

The Reserve Bank of India’s (RBI’s) foreign exchange reserves rose by $2.5 billion to $547.25 billion in the week ended November 18, the latest data showed.

The latest data marks the first time since May that the RBI’s reserves have risen for two consecutive weeks. In the week ended November 11, the reserves had jumped by $14.7 billion.

The rise in reserves last week was largely on account of an increase in the central bank’s foreign currency assets, which grew $1.8 billion to $484.29 billion.

In the week ended November 18, the rupee depreciated 1 per cent against the US