Forex Reserve Update
According to central bank data released on Friday, India’s foreign exchange reserves continued their upward trend for the fourth consecutive week, reaching a record high of $642.49 billion as of March 15th. During the reporting week, the reserves increased by $6.4 billion, following a notable increase of $20 billion over the previous three weeks.
Adjusting for valuation effects, foreign exchange reserves saw a notable rise of $32.9 billion during April-December 2022, compared to a depletion of $14.7 billion in the same period. In nominal terms, including valuation effects, foreign exchange reserves surged by $44 billion, contrasting with a decline of $44.6 billion in the corresponding period of the previous year.
