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Forex Update: India’s Reserves Jump $9.1 Billion To Reach $616 Billion, A 20-Month High

<p>India’s foreign currency reserves, or forex reserves, increased for the fifth week in a row, rising $9.11 billion to an almost 20-month high of $615.97 billion for the week ended December 15.</p>
<p><img decoding=”async” class=”alignnone wp-image-320347″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high-750×422.jpg” alt=”theindiaprint.com forex update indias reserves jump 9 1 billion to reach 616 billion a 20 month high” width=”1074″ height=”604″ title=”Forex Update: India's Reserves Jump $9.1 Billion To Reach $616 Billion, A 20-Month High 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high-1024×576.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high-150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-forex-update-indias-reserves-jump-9-1-billion-to-reach-616-billion-a-20-month-high.jpg 1200w” sizes=”(max-width: 1074px) 100vw, 1074px” /></p>
<p>The total reserves had increased by $2.816 billion to $606.859 billion over the previous reporting week.</p>
<p>The nation’s foreign reserves hit an all-time high of $645 billion in October 2021. The reserves suffered as a result of the central bank using the kitty to protect the rupee from pressure brought on mostly by events that have occurred globally since last year.</p>
<p>According to figures provided by the Reserve Bank of India (RBI) on Friday, the foreign currency assets, which constitute a significant portion of reserves, saw a rise of $8.349 billion to $545.048 billion for the week ending December 15.</p>
<p>The impact of non-US units like the euro, pound, and yen held in the foreign exchange reserves appreciating or depreciating is included in the foreign currency assets, expressed in terms of dollars.</p>
<p>During the week, gold reserves increased by $446 million to $47.577 billion, according to the RBI. The apex bank said that the special drawing rights (SDRs) had increased by $135 million to $18.323 billion.</p>
<p>According to statistics from the top bank, India’s reserve position with the IMF increased by $181 million to $5.023 billion during the reporting week.</p>

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