Home / Finance / Analysis / A first in 9 weeks: Foreign exchange reserves rise by $204 million

A first in 9 weeks: Foreign exchange reserves rise by $204 million

Analysts said there was an increase in the forex reserves, even as the RBI did not discontinue shielding the rupee from excessive volatility through sales of the dollar

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Last month, RBI Governor Shaktikanta Das said 67 per cent of the decline in foreign exchange reserves during the current financial year was due to valuation changes caused by a stronger US dollar

Bhaskar Dutta Mumbai

3 min read Last Updated : Oct 14 2022 | 10:52 PM IST

The Reserve Bank of India’s (RBI’s) foreign exchange reserves rose for the first time in nine weeks. According to the latest data, the forex reserves stood at $532.87 in the week ended October 7 -- $204 million higher than a week ago. Before this, the RBI’s foreign exchange reserves last witnessed an increase in the week ended July 29, by $2.3 billion.

But during the week under review, the RBI’s foreign currency assets registered a decline of $1.3 billion to $471.5 billion. The value of the central bank’s gold holdings increased by $1.4 billion to $38.9 billion, the data showed.

Topics : Forex RBI Foreign exchange reserves Forex reserves Dollar

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