Forex kitty grows for 2nd consecutive week; rises $2.54 bn to $547.25 bn

Updated: Nov 25 2022 5:38PM

Mumbai, Nov 25 (PTI) In the second consecutive week of an increase in the kitty, India's forex reserves have grown by USD 2.537 billion to USD 547.252 billion for the week ended November 18, the RBI said on Friday.

In the previous reporting week, the overall kitty had swelled by USD 14.721 billion in the highest weekly rise since August 2021 to USD 544.715 billion.

It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused by global developments.