Foreign exchange reserves rise $1.2 billion to $596 billion: RBI data

The country’s foreign exchange reserves increased $1.2 billion for the week ended July 7 to $ 596 billion latest data released by the Reserve Bank of India showed. The rise in reserves is mainly due to a $989 million increase in foreign currency assets.

The overall reserve had increased by $1.8 billion to $595 billion in the previous reporting week.

In the first six months of 2023, foreign exchange reserves rose by around $33 billion. Reserves were $562.8 billion as on December 30, 2022.