India’s weekly forex reserves rise by $10.42 bn to hit 5-month high of $572 bn

India’s foreign exchange (forex) reserves have touched a five-month high in the latest week ending January 13. As per RBI’s weekly bulletin on Friday, the reserves climb to $572 billion which is the highest level since August last year. All components in reserves recorded an upside with foreign currency assets gaining momentum.

In the week ending January 13, the reserves surged by $10.417 billion to $572 billion. This is far higher better performance compared to the previous week which ended on January 6 where reserves stood at $561.58 billion down by $1.268 billion week-on-week basis.

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