Diabytes
India's forex reserve News
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The latest RBI data showed that India's foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 578.49 billion.
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This buffer of foreign exchange reserves helps insulate domestic economic activity from global shocks.
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A strong Forex kitty enables the RBI to intervene in the spot and forward currency markets by releasing more dollars to prevent the rupee from going into a free fall.
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India's forex kitty dropped USD 571 million to USD 563.499 billion for the week ended December 16.
The country's foreign exchange kitty had reached an all-time high of USD 645 billion.
The reserves had been declining as the central bank deployed the reserve to defend the rupee amid pressures caused majorly by global developments.
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India's foreign exchange reserves rose to 531 million in October last week.
This marks the highest weekly gain since September 2021.
Indian rupee on Friday appreciated and closed at 82.44 against the US dollar at the interbank forex market.
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