Forex kitty swells $10.47 bn to $636.095 bn

Mumbai: India’s forex kitty jumped by $10.47 billion to $636.095 billion for the week ended March 8, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by $6.55 billion to $625.626 billion.

In October 2021, the country’s forex kitty had reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 8, the foreign currency assets, a major component of the reserves, increased by $8.121 billion to $562.352 billion, the Reserve Bank of India (RBI) said.