IANS | 12 May, 2023
India's foreign exchange reserves rose by $7.196 billion to $595.976
billion during the week ended May 5, data released by the Reserve Bank
of India (RBI) said on Friday.
The overall reserves had fallen by $4.532 billion to $588.78 billion during the previous reporting week, ending April 28.
In October 2021, the country's forex reserves had reached an all-time high of $645 billion.
The
reserves have been declining as the central bank deployed the kitty to
defend the rupee amid pressures caused majorly by global developments.
During
the week ended on May 5, the foreign currency assets, a major component
of the reserves, increased by nearly $6.536 billion to $526.021
billion, according to RBI data.
