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Forex reserves jump $9.11 bn to $615.97 bn

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December 22, 2023 21:53 IST

India's forex reserves jumped $9.11 billion to $615.97 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data.

Forex

Photograph: Kham/Reuters

In the previous reporting week, the overall reserves had risen $2.82 billion to $606.86 billion.

In October 2021, the country's forex kitty reached an all-time high of $645 billion.

 

The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.

For the week ended December 15, the foreign currency assets, a major component of the reserves, increased $8.35 billion to $545.05 billion, as per the Reserve Bank of India (RBI) data released on Friday.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

Gold reserves were up $446 million to $47.58 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up $135 million to $18.32 billion, the apex bank said.

India's reserve position with the IMF rose $181 million to $5.02 billion in the reporting week, the apex bank data showed.

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