Forex kitty tops $600 billion mark after nearly 4 months – Times of India

MUMBAI: India’s foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year.
“India’s foreign exchange reserves stood at $604 billion as on December 1, 2023. We remain confident of meeting our external financing requirements comfortably,” Reserve Bank governor Shaktikanta Das said, while unveiling the December bi-monthly monetary policy on Friday.
The reserves were $597.9 billion in the preceding week ended November 24. In October 2021, the country’s foreign exchange kitty had reached an all-time high of $642 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.agencies

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