Team Blitz India
NEW DELHI: India’s foreign exchange reserves rose for the fourth straight week to hit an all-time high of $642.292 billion in the week ending on March 15, as per the latest data released by the Reserve Bank of India (RBI). During the week, the foreign exchange kitty rose by $6.396 billion.
Before March 8 week, the reserves rose by $10.470 billion to $636.095 billion.
During the latest week, India’s foreign currency assets (FCA), the biggest component of the forex reserves, rose by $6.034 billion to $ 568.386 billion, the central bank’s weekly statistical data showed.
Gold reserves during the week rose by $425 million to $ 51.140 billion.
In the calendar year 2023, the RBI added about $58 billion to its foreign exchange kitty. In 2022, India’s forex kitty slumped by $71 billion cumulatively.
