India’s forex reserves have increased for the first time in over a year.

Canada Global Tv: The Reserve Bank of India’s (RBI) weekly statistical supplement revealed on Friday that India’s foreign exchange reserves (INFXR=ECI) increased to $531.08 billion in the week through October 28, marking its largest weekly increase since September 2021.

At the end of the previous week, which concluded October 21, the nation’s reserves stood at $524.52 billion.

Due to the RBI’s intervention in the currency markets and changes in valuation brought on by the strength of the dollar, they have fallen by almost 16% so far this year.

The rupee increased during the holiday-shortened week that concluded on October 28 to halt a run of six weeks of falls. It ended the week in a flat position at 82.44 per dollar.

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