Foreign exchange reserves touch historic high of $651.5 billion
The Governor expressed confidence that the central bank was well-positioned to meet the country’s external financing requirements comfortably.
India’s foreign exchange reserves rose to $531.081 billion for the week ended October 28, a jump of $6.561 billion over the previous week.
According to a weekly supplement issued by the Reserve Bank of India (RBI), the overall reserves had dropped by $3.847 billion to $524.52 billion in the previous week.
In October 2021, the country’s foreign exchange reserves had touched $645 billion. However, since then, the reserves have been falling.
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The foreign currency assets (FCA), a major component of the overall reserves, rose by $5.772 billion to $470.847 billion during the week ending October 28.
The country’s reserve position with the IMF also went up by $48 million to $4.847 billion in this period.
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