India’s foreign exchange reserves rose for the fourth straight week to hit an all-time high of $642.49 billion in the week ending on March 15, as per the latest data released by the Reserve Bank of India.
During the week, the foreign exchange kitty rose by $6.396 billion.
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Before March 8 week, the reserves rose by $10.470 billion to $636.095 billion.
During the latest week, India’s foreign currency assets, 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 from $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.
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