India’s foreign exchange reserves rose to $531.08 billion in the week through Oct. 28, marking their biggest weekly gain since September 2021, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.
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The country’s reserves were $524.52 billion at the end of the previous week that ended Oct. 21.
They have decline around 16% this year so far due to the RBI’s intervention in the currency markets, as well as valuation changes owing to the dollar’s strength.
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In the holiday-shortened week that ended Oct. 28, the rupee rose to snap a run of six weeks of declines. For the current week, it closed flat at 82.44 per dollar.
