Foreign exchange reserves record highest weekly rise since Nov 2022

India had fifth largest forex reserves in the world as of Feb 2023, says RBI bulletin

The Reserve Bank of India’s foreign exchange reserves jumped $12.8 billion to $572.80 billion in the week ended March 17, registering the highest rise since the week ended November 11, 2022.

At present levels, the RBI’s reserves are at their highest level since February 3, 2023.

The rise in the reserves last week was primarily on account of a sharp increase in the RBI’s foreign currency assets, which jumped $10.49 billion to $505.35 billion, showed latest central bank data.

In the week ended March 17, the rupee weakened 0.6 per cent against the US dollar. The previous week was a