Forex Reserves
India's forex reserves at a five-month high of $572 billion
India's foreign exchange reserves swelled to a five-month high in the week ended January 13, the data released by the Reserve Bank of India (RBI) on Friday showed.
According to the data, reserves soared to $572 billion, the biggest growth since early August 2022.
It is also higher than the previous week’s $561.58 billion.
The reserves shrank to $524.52 billion in October 2022, hitting a more-than-two-year low.
On a positive note, the rupee also recorded its best trading week in the span of two months in the week ended January 13.
India’s reserve position with the IMF also grew by $86 million to $5.227 billion in the reporting week, showed the data released by the apex bank.
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