India's foreign exchange reserves increased by 595 billion US dollars till November 17

The Reserve Bank of India (RBI) has released the report of India's foreign exchange reserves during the week ending November 17. According to this report, by November 17, 2023, the country's foreign exchange reserves increased by US $ 0.077 billion to US $ 595.397 billion. At the same time, in last week's reporting it decreased by US $ 62 million to US $ 590.321 billion.

According to the weekly statistical supplement released by the Reserve Bank of India (RBI), for the week ended November 17, foreign exchange assets, and reserves increased by US$ 4.387 billion to US$ 526.391 billion. Let us tell you that in October 2021, the country's foreign exchange kitty had reached an all-time high of US $ 645 billion.

The central bank deployed capital reserves to protect the rupee amid pressure from global growth since last year. This has affected the stock. Non-US units such as the euro, pound, and yen held in foreign exchange reserves have also been affected.

The RBI said gold reserves increased by US$527 million to US$46.042 billion during the week. It said special drawing rights increased by US$120 million to US$18.131 billion.

India's reserve position with the IMF rose by US$42 million to US$4.833 billion in the week under review, RBI data showed.