Foreign exchange reserves rise for the third consecutive week, crossed $ 550 billion

The country’s foreign exchange reserves have increased in the week ending November 25. This is the third consecutive week when foreign exchange reserves have increased. During the week, foreign exchange reserves increased by $ 2.9 billion to reach $ 550.14 billion.

According to RBI data, foreign exchange reserves increased by $ 2.54 billion to $ 547.25 billion in the week ended November 18. After August 2021, the country’s foreign exchange reserves have seen the fastest increase this week. Explain that in October 2021, foreign exchange reserves had reached an all-time high of $ 645 billion.

Foreign currency assets (FCAs), considered a significant part of total reserves, rose by $3 billion to $484.28 billion in the week ended November 25, the central bank said. Apart from this, the value of gold reserves fell by $ 73 million in the week to $ 39.938 billion.

In the week, the country’s currency reserves kept with the International Monetary Fund (IMF) also decreased by $ 14 million to $ 5.03 billion.